People find it difficult to get along without necessities,therefore demand for necessities:
A) Is relatively elastic.
B) Is relatively inelastic.
C) Is relatively unitary elastic.
D) Does not change with changes in price.

Question

Quizplus · Accepted Answer

When people cannot easily do without a good or service, their demand for it becomes relatively inelastic. This is because they need the commodity to satisfy their basic needs and therefore cannot decrease its consumption much even when the price goes up. For instance, the demand for food, water, shelter, and clothing is inelastic because individuals require these items to survive.

People Find It Difficult to Get Along Without Necessities,therefore Demand