The demand for such items as salt,sugar and hand soap tend to be:
A) Relatively inelastic
B) Relatively elastic
C) Perfectly inelastic
D) Perfectly elastic

Question

Quizplus · Accepted Answer

The demand for essential items like salt, sugar, and hand soap tends to be relatively inelastic because they are necessities that people need regardless of the price. Consumers are willing to pay a higher price for these items as they are integral to their day-to-day lives, and there are few substitutes available for them. Therefore, changes in price have a minimal effect on the quantity demanded.

The Demand for Such Items as Salt,sugar and Hand Soap