The following items have inelastic demand :
Insulin, Salt , Gasoline
Inelastic demand :
When there is no decrease in demand or consumption of a product or a service irrespective of the increase in its price then the demand of that item or service is said to be inelastic.
- Insulin is inelastic in demand because it is an important drug for diabetic patients hence it's price has little to no effect on it's demand
- Salt is a basic commodity and extremely inelastic in demand because it has no other substitute and is essential for cooking food
- Gasoline is also a very essential in industries for their production and also for vehices it has substitutes but they're not that much effective and it requires a huge capital to shift to it's alternatives hence it is inelastic in demand
- things like chicken ,jeans and apple juice have substitutes and also are not a basic commodity therefore their demand is elastic
Learn more about Inelastic demand here:
https://brainly.com/question/26850555
#SPJ10
