In economics, if a good is inelastic,

consumers have lost an interest in purchasing it.

producers have lost an interest in manufacturing it.

its supply or demand is too sensitive to price changes.

its supply or demand is not sensitive to price changes.

Question

History

Vincent

17 May, 22:17

In economics, if a good is inelastic,

consumers have lost an interest in purchasing it.

producers have lost an interest in manufacturing it.

its supply or demand is too sensitive to price changes.

its supply or demand is not sensitive to price changes.

+4

Answers (2)

Know the Answer?

Carolina King · Answer 1

The correct answer is its supply or demand is not sensitive to price changes

Inelastic goods have no price changes based on the quantity that is demanded.

Wilson · Answer 2

I believe the answer is: its supply or demand is not sensitive to price changes

A goods would fall under inelastic category if that product is considered as basic/primary needs for most consumers.

Example of such goods is food and water. No matter how much the price of food and water rises, the demand for this goods would stay relatively stagnant because people have to use them to survive.

In economics, if a good is inelastic,consumers have lost an interest in purchasing it.producers have lost an interest in manufacturing it.its supply or demand is too sensitive to price changes.its supply or demand is not sensitive to price changes.

In economics, if a good is inelastic,

consumers have lost an interest in purchasing it.

producers have lost an interest in manufacturing it.

its supply or demand is too sensitive to price changes.

its supply or demand is not sensitive to price changes.