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Q: Is water considered an inelastic product?
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Is salt an elastic or inelastic product?

Inelastic


Is cotton elastic or inelastic product?

Cotton is an inelastic product, meaning its quantity demanded does not change significantly with price fluctuations. This is because cotton is a basic necessity and its demand remains fairly stable regardless of price changes.


A product that has few substitutes tends to be?

Inelastic


What is inelastic?

Inelastic is something which is not flexible. You cannot stretch any inelastic product, whereas you can easily stretch the products which are flexible.There are two types of elasticities in economics.1. Elastic2. inelastic


When the price of a product rises and the total revenue of sellers increase?

You have an inelastic product.


If the prices have a little effect on the quantity of a product demanded the product is said to have?

inelastic demand


What is meant by price inelastic?

Price inelastic means that the supply or demand of a product or service is unaffected by any changes in the price.


If price changes have little effect on the quantity of a product demanded the product is said to have?

inelastic demand


Will a product tend to be elastic or inelastic if the purchase of a product can be delayed?

The product will tend to be elastic if the purchase of a product could possibly be delayed.


Is price elasticity of demand considered elastic or inelastic with food?

price elasticity of food would be inelastic, as there are no substitutes and food is a necessity.


What does it mean the demand for a product is inelastic?

When the demand for a product is inelastic, the product has no close substitutes and can't be easily replaced. Therefore, when the price of the product raises, people buy roughly the same amount of the product because they need it too much. This is in comparison to an elastic demand, where people will buy less of a product when it becomes more expensive.


If a price increase has little or no effect the demand for the product is?

When a price increase has little or no effect on the demand for a product, it is inelastic.