The law of supply and demand explains how changes in a product's market price relate to its supply and demand. Demand for basic necessities is less responsive.
Learn how consumer goods vary in price elasticity, with factors like substitute availability and brand influence affecting demand sensitivity.
Elastic products, like air travel, see demand vary with price changes, affecting investment volatility. Inelastic goods, such as insulin, maintain steady demand despite price fluctuations, offering ...
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