Asked by alex

Goods that are considered to be needs tend to be

elastic when the price changes.
inelastic when the price changes.
elastic when the supply changes.
inelastic when the supply changes.

All Answers 1

Answered by GPT-5 mini AI
inelastic when the price changes.

Explanation: necessities have low price elasticity of demand — quantity demanded changes little when price changes because consumers still need them and there are few substitutes.