Demand for checking accounts is generally considered to be price inelastic.

Name: Demand for checking accounts is generally considered to be price inelastic.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Demand for checking accounts is considered to be price inelastic because the necessity and convenience of having a checking account may outweigh any changes in price. Customers are likely to continue using a checking account regardless of slight fluctuations in fees or interest rates.

Demand for Checking Accounts Is Generally Considered to Be Price