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Q: Can luxury become a necessity
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the answer is that some people think it is a necessity, but it used to be a luxury in the 80's


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What kind of elastic demand does electricity belong?

It depends on whether electricity is necessity or luxury. In the US where electricity is a necessity, the demand is likely to be inelastic In Africa where electricity is luxury, the demand is likely to be elastic


How does a persons perception of a good is a necessity or a luxury affect his or her purchase of it?

a good that is perceived as a necessity will be purchased even if the price rises


How does a person's perception of whether a good is necessity or a luxury affect his or her purchases of it?

a good that is perceived as a necessity will be purchased even if the price rises


How does a person perception of whether a good is a necessity or a luxury affect his or her purchases of it?

a good that is perceived as a necessity will be purchased even if the price rises


How does a person's perception of whether a good is a necessity or luxury affect his or her perception of it?

a good that is perceived as a necessity will be purchased even if the price rises


How does a persons perception of whether a good is a necessity or luxury affect his or her purchases of it?

a good that is perceived as a necessity will be purchased even if the price rises