ARTICLES

Elasticity is a term that describes how much the demand or supply for a product or service changes in relation to that product’s price. Each product on the market today has a different level of elasticity. Products consi...

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Examples of products that have elastic supplies are specifically branded items that have alternatives like Campbell's soup, Marlboro cigarettes and Porsche vehicles; products that have inelastic supplies are cigarettes, ...

www.reference.com/article/examples-products-elastic-inelastic-supply-85d22da934a4c2ea

Furniture, cars, televisions, jewelry and phones are examples of elastic goods. They are luxuries. Food grains, vegetables, milk, gas and electricity are some examples of inelastic goods. They are necessities.

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SIMILAR ARTICLES

Furniture, cars, televisions, jewelry and phones are examples of elastic goods. They are luxuries. Food grains, vegetables, milk, gas and electricity are some examples of inelastic goods. They are necessities.

www.reference.com/article/examples-elastic-inelastic-goods-cfc1c2af4193f877

Inflation generally increases when the gross domestic product (GDP) growth rate is above 2.5 percent due to several factors, such as demand for goods overstretching supply and higher wages in an ultra-competitive job mar...

www.reference.com/world-view/inflation-affect-gdp-c2ab40cf091bc551

Alfred Marshall wrote the book “Principles of Economics,” which emphasized that the price and production of goods is determined by both supply and demand. Marshall contributed many original ideas to the study of economic...

www.reference.com/article/were-alfred-marshall-s-contributions-field-economics-b5fc63edc13122af

Another term for "equilibrium price" in economics is "market-clearing price," which is a price point at which the market achieves a balance in terms of supply and demand. When the market reaches a market-clearing price, ...

www.reference.com/article/another-term-equilibrium-price-95a1ac5532d9e37b