For a good that is a necessity, demand tends to be inelastic. quantity demanded tends to respond substantially to a change in price. its price elasticity equals one. the law of demand often does not apply.
【題目】 For a good that is a necessity, quantity demanded tends to respond substantially to a change in price. the law of demand often does not apply. its price elasticity equals one. demand tends to be inelastic.
標籤: necessity