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When would you want to own a business that sells elastic products?
Wiki User
∙ 14y ago
When the economy snaps back.
Wiki User
∙ 14y ago
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When would you want to own a business that sells price elastic products?
You would want to own a company that offer price elastic products when there are no close substitutes. Although customers will respond to changes in price, they won't be able to substitute another product for yours.
Why would the supply curve of a dog walking business be considered elastic?
The degree to which a demand or supplycurvereacts to a change in price is the curve's elasticity. Products that are necessities are more insensitive to price changes because consumers would continue buying these products despite price increases.chacha answer xD
Would 5.0 be elastic or inelastic?
5.0 would be elastic. Anything above 1.0 is considered elastic.
Why would the supply curve of a dog-walking business be considered elastic?
Because it can hire workers quickly if the price rises.
What is the definition of Elastic products?
By "elastic products" I am assuming you mean that the demand for these products is relatively elastic. This means that if the price of the product were to decrease, there would be a relatively large increase in the quantities demanded and if the price were to increase, there would be a relatively large decrease in quantities demanded. Products that tend to be elastic are products that have a large number number of substitutes, products that tend to be luxuries (people can do without them), and products that take up a relatively large portion of houshold income (like washing machines, refidgerators, etc.). The demand curves for these products tend to be relatively flat. That is a general definition of products that are "relatively elastic". Things that are "relatively inelastic" are ones that can change their prices, but people will still tend to buy the same amount of the product. These tend to be things that are not luxuries, but needs or addictions (like essential medicines or addictive substances) or things that don't take up much of a person's income (like pencils or salt). The demand curve for these products tend to be relatively steep. These are general ideas. To confuse things, however, most products have a price range where the demand is elastic and a price range where the demand is inelastic. The mathematical formula has you find the percentage change in price compared to the percentage change in quantity demanded. If the % change in price is greater than the % change in quantity demanded, then the demand for the product is inelastic in that price range. If the % change in price is less than the % change in quantity demanded, then the demand for the product is elastic in that price range.
When would you want to own a business that sells price elastic products?
You would want to own a company that offer price elastic products when there are no close substitutes. Although customers will respond to changes in price, they won't be able to substitute another product for yours.
What business marketing companies can make my business stand out from the rest?
I would recommend finding a company that sells similar products to what you are interested in selling. Ask them to partner up with you to get started in advertising.
Why would the supply curve of a dog walking business be considered elastic?
The degree to which a demand or supplycurvereacts to a change in price is the curve's elasticity. Products that are necessities are more insensitive to price changes because consumers would continue buying these products despite price increases.chacha answer xD
What is meant by the term Core Business?
In a company that has diverse products or business segments, core business refers to that part of their business they consider their prime are of interest. For example, Starbucks sells coffee drinks, but has also added desserts, lunches, coffee paraphenalia, etc. The coffee drinks would be considered their core business. If they had to narrow their business activities, coffee drinks would be the last to go.
What sorts of industries or businesses would buy products from Link Lockers?
Link Lockers is a company that sells lockers. A business that may purchase products from this company would be a large scale one. A large hotel or place with multiple employees might benefit from lockers like these.
What products do Oriental Weavers of America sell?
There are many products that the Oriental Weavers of America sells in their store. The biggest thing that Oriental Weavers of America sells would be fashionable rugs.
Who sells melaleuca products?
We are a referral based business so the person that showed or referred the business's to you is the one to set up your account. Once the account is established the person will do their shopping online or by phone for their orders. We do not sell products, we simply show people how to switch stores and save money on the products they are buying anyway. Chemical free products ! Contact me if you would like more info. Karen kadyladi@gmail.com
Can you suggest a website that sells diabetes related products?
There are many a websites that sell diabetes related products. One of them would be www.libertymedical.com and another would be www.diabeticexpress.com/
Does Microsoft sell software to help a person start up a small business?
Microsoft sells many different products that will help a person start up a small business, plus they offer special help to their small business customers that would cost a lot of money from more traditional sources.
Would 5.0 be elastic or inelastic?
5.0 would be elastic. Anything above 1.0 is considered elastic.
Why would the supply curve of a dog-walking business be considered elastic?
Because it can hire workers quickly if the price rises.
Two reasons why a business would expand?
1. because the business has something that people want to buy 2 . because the business sells their product at a fair price
