Which of the following is less sensitive to interest rate changes?

Question

Quizplus · Accepted Answer

Food and other household items are generally less sensitive to interest rate changes because they are considered necessities. People need to buy food and household items regardless of the current interest rate environment, making demand for these goods relatively inelastic compared to sectors like housing or finance, which are more directly impacted by interest rate fluctuations.

Which of the Following Is Less Sensitive to Interest Rate