Examples of income-elastic products include all of the following EXCEPT ________.

Name: Examples of income-elastic products include all of the following EXCEPT ________.
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Question

Quizplus · Accepted Answer

Beverages are generally considered to be a necessity, so their demand is not greatly affected by changes in income. Therefore, they are not income-elastic products. Computers, video games, and jewelry are all luxury items and their demand varies greatly with changes in income, making them income-elastic products.

Examples of Income-Elastic Products Include All of the Following EXCEPT