Because food is anecessity people will always have to eat something in order to survive in this planet. not many substitute andperishability
elastic
price elasticity of food would be inelastic, as there are no substitutes and food is a necessity.
I would say that salt and food grains have an inelastic demand and television has an elastic demand.
Food and Energy
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
elastic
price elasticity of food would be inelastic, as there are no substitutes and food is a necessity.
I would say that salt and food grains have an inelastic demand and television has an elastic demand.
Food and Energy
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
difference between elastic and inelastic demand
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
narcotics, food, gas
Inelastic Demand & Elastic Demand
What is inelastic demand
inelastic demand
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.