Is furniture elastic

Answer 1

Furniture is generally not considered elastic in the economic sense, as it typically doesn't exhibit significant price sensitivity to changes in demand or supply. However, some aspects of furniture, such as certain materials or designs, may have varying degrees of flexibility in response to consumer preferences. For example, modular furniture can be more adaptable and customizable, reflecting a form of functional elasticity. Overall, while individual pieces may have some flexible characteristics, the furniture market as a whole is relatively inelastic.