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What examples of elastic market?

Updated: 9/19/2023
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Q: What examples of elastic market?
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What is an example of a purely elastic market?

currency exchange market


Examples of elastic products?

An elastic product is one that if the price goes up, people will stop buying it. Examples of elastic goods are vacations, DVD's and other material items.


What are examples of elastic goods?

coffee


Examples of elastic materials?

Rubber Band and spring is an examples of elasticity materials


What good has a perfectly elastic market?

No good is perfectly elastic: if it were, any raise in price would cause exactly zero units of the good to be demanded, and any drop in price would cause infinite units of the good to be demanded, which is not possible. Some goods are very elastic, however, like goods with close substitutes (Pepsi and Coke are good examples).