Goods that are considered to be needs tend to be

Posted By Admin @ September 03, 2022


Goods that are considered to be needs tend to be elastic when the price changes. inelastic when the price changes. elastic when the supply changes. inelastic when the supply changes.


Goods that are essential in daily life have lower elasticity needs like gas,  water, oil and electricity.

Elastic demands are the requirements when the large price shift affects the demand of the product. While in inelastic the price change affects in a very small manner to the demand.

The correct answer is:

Option B: Inelastic when the price changes.

This can be explained as:

  • In an economy, when the goods and commodities are in static relation then it is called inelastic.

  • The increase in the price of the product does not affect the customers purchasing habits in an inelastic system.

Therefore, goods that are considered to be requirements tend to be inelastic when the cost varies.

To learn more about goods, elasticity and inelasticity follow the link:

Similar Questions

  1. Why is volleyball considered to be a good aerobic exercise
  2. Which of the following are considered components of good health
  3. Selling goods in a foreign country includes non-legal considerations for:
  4. Which factors are considered when deciding how to make goods
  5. How many teaspoons are in 2 3 of a cup
  6. Which of the following tasks would a database administrator perform
  7. Which part of the adaptive immune response involves b cells
  8. How can some large molecules get through the cell membrane
  9. A major cause of fatal traffic accidents in tennessee is
  10. When does the development of phonological awareness skills take place
  11. Ecosystems include hydrothermal vent communities in the deep ocean bottom
  12. Put the following steps of dna replication in chronological order
  13. What is the simplified form of the following expression assume
  14. Which of the following is a health related fitness component
  15. Which nation in north america has the most state divisions
  16. How does the diagram violate the second law of thermodynamics
  17. What was true about the end of the vietnam war
  18. After listening to your high-volume car stereo for 15 minutes
  19. According to the preamble who gives power to the constitution
  20. How do i find my account number for assurance wireless
  21. Why does mass not affect the period of a pendulum
  22. Which of the following is an instance of persuasive speaking
  23. A board foot is a unit of measurement equal to
  24. Among managers there are three distinctive leadership styles. they are:
  25. A regular octagon is inscribed in a circle of radius
  26. How to know if a graph has an inverse function
  27. What is the greatest common factor of 8 and 36
  28. One goal of ethics for government acquisition professionals is to
  29. One of the fundamental questions asked by virtue ethicists is
  30. An empty 250 ml beaker has a mass of 60g
  31. What sources of information do people use to learn history
  32. How do you add a new comment to a document
  33. Which is not part of the three sink cleaning process
  34. Which plant cell organelle supports and maintains the cell's shape
  35. Which of the following classifies as metadata about a webpage
  36. What unexpected effect did christianity have on many enslaved people
  37. The price that a company charged for a computer accessory
  38. What kind of plate boundary is the san andreas fault
  39. The first representative government in the new world was the
  40. A data mart differs from a data warehouse in that
  41. One of the advantages of the experimental method is that
  42. Which of the following best describes how a switch functions
  43. What was the real source of the el dorado legend
  44. What are the advantages and disadvantages of a traditional economy
  45. Active reading night chapters 6-9 answer key hopelessness and death
  46. How can good fitness and health improve your career success
  47. Who sculpted the above work of art entitled mademoiselle pogany
  48. Which of the following is not a membrane disrupting toxin
  49. Independent and dependent variables scenarios worksheet with answer key pdf
  50. Predict the bond angles about the central atom in h2s
  51. Why are the tribes of the powhatan confederacy called algonquian
  52. Why is cancer considered a disease of the cell cycle
  53. What can be used to measure the rate of photosynthesis
  54. What is one advantage and one disadvantage of online learning
  55. What point of view is the great gatsby written in
  56. Which region represents the solution to the system of inequalities
  57. The director of nursing oversees dietary needs of the residents
  58. What is the difference between a meteorite and an asteroid
  59. Explain three key differences between federal and private student loans.
  60. If your goal is to join a community baseball league
  61. What is the relationship between co2 and o2 for orcas
  62. Zack has two savings accounts with a total of 9000
  63. Determine the cross product of the vectors x x y
  64. According to the demand-pull theory what is responsible for inflation
  65. Which feature of anglo-saxon culture is described in the excerpt
  66. Determine the remaining sides and angles of the triangle abc.
  67. Judith sargent murray on the equality of the sexes summary
  68. A time when greek culture spread throughout the non-greek world
  69. Your math test scores are 68 78 90 and 91
  70. Find the volume of a pyramid with a square base
  71. Match each business structure with the scenario that describes it
  72. What does irving use to build suspense in the story
  73. An rna molecule consists of how many strands of nucleotides
  74. When is a boat operator required to assist anyone injured
  75. Explain what makes alcoholism a chronic rather than acute disease

What are two characteristics of a 5ghz band wireless network

The two major characteristics of the 5GHZ are:Fast speedShort range. According to the given question, we are asked to show the two major characteristics of …

A person sweating is an example of what biological process

Answer:c.homeostasisExplanation:the tendency toward a relatively stable equilibrium between interdependent elements, especially as maintained by physiological sweating is one of them

Why are cells called the building blocks of an organism

Answer: A cell is called the building block of an organism because all the organisms are made of cells. Explanation: From unicellular to multi-cellular , …

Which is not part of the three sink cleaning process

Answer:Sanitizing all items is in the third sink, the third step.Explanation:A 3-compartment sink is used as a better method to clean, it can be distributed …

What trait does marlow have in common with other seamen

The trait that Marlow has in common with other seamen is he tells and narrates the story.What is a trait?Trait refers to physical characteristics. In …

How does an igneous rock turn into a metamorphic rock

Answer:undergoing extremely high temperature condition.Explanation:Metamorphic rocks are the secondary rocks that are directly derived from either igneous or sedimentary type of rocks. These rocks are …

What happened as a result of the louisiana purchase apex

Answer:A. The President used powers not given to his office in the Constitution.

Which of the following demonstrates a leaders commitment to duty

A leader is bound to perform many duties. All the options mentioned above demonstrate a leader's commitment to the duties that a leader performs. What …

The number of valence electrons in group 17 elements is

Answer:7 valence electronsExplanation:An atom of a group 17 element such as chlorine has seven valence electrons. It is “eager” to gain an extra electron to …

The most accurate place to conduct a weight check is

The most accurate place to conduct a weight check is at safety-stop death, at the end of the dive.Why is a weight check important in …

Why did chicano migrant workers establish the united farm workers

His union joined with the Agricultural Workers Organizing Committee in its first strike against grape growers in California, and the two organizations later merged to …

The melting of metamorphic or igneous rock forms what substance

The melting of metamorphic or igneous rock forms the following substances:Igneous rocks form when rocks are heated to the melting point from magma.Sedimentary rocks are …

How to find area of z score on ti 84

Answer:-1.55 to 1.55Step-by-step explanation:The Zscore which bound the middle 88% of the area under the standard normal curve ;88% = 88/100 = 0.88The middle 88% …

Which of the following classifies as metadata about a webpage

I cannot see the options but I am guessing that it is just regular HTMLIf that is the case the <meta></meta> tag can be used …