{"id":35556,"date":"2024-04-04T03:20:42","date_gmt":"2024-04-04T03:20:42","guid":{"rendered":"https:\/\/www.greatassignmenthelp.com\/questions\/?p=35556"},"modified":"2024-04-04T03:20:42","modified_gmt":"2024-04-04T03:20:42","slug":"goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes","status":"publish","type":"post","link":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/","title":{"rendered":"Goods that are considered to be needs tend to be 1: elastic when the price changes."},"content":{"rendered":"

Goods that are considered to be needs tend to be<\/p>\n

1: elastic when the price changes.<\/p>\n

2: inelastic when the price changes.<\/p>\n

3: elastic when the supply changes.<\/p>\n

4: inelastic when the supply changes.<\/p>\n

Answer: 2: inelastic when the price changes.<\/strong><\/p>\n

Goods which are required such as food, water, and housing which normally have unitary characteristics are relatively stable to changes in price. This means that for this kind of good, a price change has no or a little effect on the quantity demanded, so demand curve for such goods is relatively flat. The products that people need are still necessary even when there are percentage changes or fluctuations in price because those products are the necessities of life and living. Necessary goods that the consumer desires are unresponsive to changes in its price due to lack of close substitutes<\/p>\n","protected":false},"excerpt":{"rendered":"

Goods that are considered to be needs tend to be 1: elastic when the price changes. 2: inelastic when the price changes. 3: elastic when […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nGoods that are considered to be needs tend to be 1: elastic when the price changes.<\/title>\n<meta name=\"description\" content=\"Goods that are considered to be needs tend to be 1: elastic when the price changes. 2: inelastic when the price changes.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goods that are considered to be needs tend to be 1: elastic when the price changes.\" \/>\n<meta property=\"og:description\" content=\"Goods that are considered to be needs tend to be 1: elastic when the price changes. 2: inelastic when the price changes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/\" \/>\n<meta property=\"og:site_name\" content=\"Questions - Greatassignmenthelp.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Greatassignmenthelpus\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-04T03:20:42+00:00\" \/>\n<meta name=\"author\" content=\"Jay Cooper\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@assignmentgreat\" \/>\n<meta name=\"twitter:site\" content=\"@assignmentgreat\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jay Cooper\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/\"},\"author\":{\"name\":\"Jay Cooper\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e\"},\"headline\":\"Goods that are considered to be needs tend to be 1: elastic when the price changes.\",\"datePublished\":\"2024-04-04T03:20:42+00:00\",\"dateModified\":\"2024-04-04T03:20:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/\"},\"wordCount\":150,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/\",\"name\":\"Goods that are considered to be needs tend to be 1: elastic when the price changes.\",\"isPartOf\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#website\"},\"datePublished\":\"2024-04-04T03:20:42+00:00\",\"dateModified\":\"2024-04-04T03:20:42+00:00\",\"description\":\"Goods that are considered to be needs tend to be 1: elastic when the price changes. 2: inelastic when the price changes.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Goods that are considered to be needs tend to be 1: elastic when the price changes.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#website\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\",\"name\":\"Questions - Greatassignmenthelp.com\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.greatassignmenthelp.com\/questions\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\",\"name\":\"greatassignmenthelp\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png\",\"contentUrl\":\"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png\",\"width\":159,\"height\":52,\"caption\":\"greatassignmenthelp\"},\"image\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Greatassignmenthelpus\",\"https:\/\/x.com\/assignmentgreat\",\"https:\/\/www.pinterest.com\/greatassignment\/\",\"https:\/\/www.linkedin.com\/company\/great-assignment-help\/\",\"https:\/\/www.instagram.com\/greatassignmenthelp\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e\",\"name\":\"Jay Cooper\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g\",\"caption\":\"Jay Cooper\"},\"sameAs\":[\"https:\/\/www.greatassignmenthelp.com\/questions\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Goods that are considered to be needs tend to be 1: elastic when the price changes.","description":"Goods that are considered to be needs tend to be 1: elastic when the price changes. 2: inelastic when the price changes.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/","og_locale":"en_US","og_type":"article","og_title":"Goods that are considered to be needs tend to be 1: elastic when the price changes.","og_description":"Goods that are considered to be needs tend to be 1: elastic when the price changes. 2: inelastic when the price changes.","og_url":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/","og_site_name":"Questions - Greatassignmenthelp.com","article_publisher":"https:\/\/www.facebook.com\/Greatassignmenthelpus","article_published_time":"2024-04-04T03:20:42+00:00","author":"Jay Cooper","twitter_card":"summary_large_image","twitter_creator":"@assignmentgreat","twitter_site":"@assignmentgreat","twitter_misc":{"Written by":"Jay Cooper","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#article","isPartOf":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/"},"author":{"name":"Jay Cooper","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e"},"headline":"Goods that are considered to be needs tend to be 1: elastic when the price changes.","datePublished":"2024-04-04T03:20:42+00:00","dateModified":"2024-04-04T03:20:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/"},"wordCount":150,"commentCount":0,"publisher":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization"},"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/","url":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/","name":"Goods that are considered to be needs tend to be 1: elastic when the price changes.","isPartOf":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#website"},"datePublished":"2024-04-04T03:20:42+00:00","dateModified":"2024-04-04T03:20:42+00:00","description":"Goods that are considered to be needs tend to be 1: elastic when the price changes. 2: inelastic when the price changes.","breadcrumb":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/goods-that-are-considered-to-be-needs-tend-to-be-1-elastic-when-the-price-changes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.greatassignmenthelp.com\/questions\/"},{"@type":"ListItem","position":2,"name":"Goods that are considered to be needs tend to be 1: elastic when the price changes."}]},{"@type":"WebSite","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#website","url":"https:\/\/www.greatassignmenthelp.com\/questions\/","name":"Questions - Greatassignmenthelp.com","description":"","publisher":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.greatassignmenthelp.com\/questions\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization","name":"greatassignmenthelp","url":"https:\/\/www.greatassignmenthelp.com\/questions\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/","url":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png","contentUrl":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png","width":159,"height":52,"caption":"greatassignmenthelp"},"image":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Greatassignmenthelpus","https:\/\/x.com\/assignmentgreat","https:\/\/www.pinterest.com\/greatassignment\/","https:\/\/www.linkedin.com\/company\/great-assignment-help\/","https:\/\/www.instagram.com\/greatassignmenthelp"]},{"@type":"Person","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e","name":"Jay Cooper","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g","caption":"Jay Cooper"},"sameAs":["https:\/\/www.greatassignmenthelp.com\/questions"]}]}},"_links":{"self":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/35556"}],"collection":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/comments?post=35556"}],"version-history":[{"count":1,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/35556\/revisions"}],"predecessor-version":[{"id":35557,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/35556\/revisions\/35557"}],"wp:attachment":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/media?parent=35556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/categories?post=35556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/tags?post=35556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}