Question 50
EasyOriginal questionThe demand for a necessity such as salt is usually
Show the answer and explanation
CorrectNot quiteAnswer A
Correct answer: A
Explanation
Necessities are bought in roughly the same amounts whatever the price, so quantity responds little.
Salt is also a tiny share of the budget, which makes demand even less elastic.
- Concept
- Necessities and elasticity
- Typical timeTypical
- 40 s
- Your timeYours
- —
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