Question

Which of the following items have elastic demand? (Remember: items that are “wants” and/or have many substitutes tend to be elastic. Items that are “needs” and/or have few substitutes tend to be inelastic.) Select all that apply.
Group of answer choices

Apple Juice

Jeans

Salt

Chicken

Gasoline

Insulin

Answer 1

The items that have elastic demand include A. Apple Juice, B. Jeans, and D. Chicken.

What is elastic demand?

Elastic demand means that the demand for goods changes based on economic factors like income or price.

Goods with elastic demand usually have substitutes because they are wants and not needs.

Thus the items that have elastic demand include A. Apple Juice, B. Jeans, and D. Chicken.

Learn more about elastic demand at https://brainly.com/question/5078326

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