A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing


  • 3 years ago

hi,i need a more insight on elasticity and inelasticity of demand....thanks

  • This Question is Open
  1. jarrodbagwell
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    Elasticity and Inelasticity of demand reflect how changing conditions (supply, price) affect the demand of a good. A good example of an inelastic good is one like water. People need water or they will die. It's that simple. Because of that, the demand for water will be fairly steady regardless of supply or price. An example of an elastic good is computer. As the price of a computer goes up or down, the demand curve for computers changes to suit the desire of the people wanting to purchase.

  2. Winnie4Christ
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Thanks alot Jarrodbagwell...its well understood...am deeply grateful to you...God bless you!

  3. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...


  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.