Price changes have little impact on the quantity demanded of:
A) substitute goods.
B) inferior goods.
C) normal goods.
D) necessities.

Question

Quizplus · Accepted Answer

Necessities are goods that are essential for survival or are considered basic needs, such as food, water, and shelter. The demand for these goods tends to be inelastic, meaning that price changes have little impact on the quantity demanded because consumers still need to purchase these goods regardless of price changes.

Price Changes Have Little Impact on the Quantity Demanded Of