Class X project: Products for which demand is price inelastic and price elastic
Question: Make a list of products for which you think demand is price inelastic and price elastic. Specify the reasons you may think relevant for your analysis.
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Here’s what to write in the project:
Start with an introduction talking about elasticity of demand.
In the main body, define and explain elasticity and inelasticity of demand.
Mention which products have elastic demand and inelastic demand.
Write about values for price elasticity of demand.
Talk about Factors that affect the price elasticity of demand.
Mention why knowledge of elasticity of demand is important to businesses.
Write conclusion.
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