Greenmae2002idn
Answered

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What is the difference between Elastic Demand and Inelastic demand?​

Sagot :

Cutegirlwithmaskidn

Answer:

Elastic demand means there is a substantial change in quantity demanded when another economic factor changes (typically the price of the good or service), whereas inelastic demand means that there is only a slight (or no change) in quantity demanded of the good or service when another economic factor is changed.

Explanation:

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Floresacrusanteidn

Answer:

The difference between inelastic and elastic demand lies in how easily things can impact consumer habits. Try to visualize something that is elastic, like a rubber band, and something that is inelastic, like twine. You can get the rubber band to stretch and change with only a little effort. The same is true of elastic demand in economics.

Explanation:

Also if you want longer asnwer add this

A slight change in something like price or supply yields significant changes in demand. If you were to exert the same amount of effort on a piece of twine, it would not stretch nearly as much as the rubber band. Like twine, inelastic demand doesn't change much when fluctuations occur.

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