A deciding element for a good's elasticity of demand is the spending rate that is spent on the good. When somebody spends a gigantic level of their wage on a good or service, at that point a cost increment will for all intents and purposes drive them to settle on troublesome decisions on what they buy. That individual would need to shorten their utilization of that great or administration by a generous sum with a specific end goal to monitor their financial plan. Basically, as the cost goes higher that individual would need to change their buys.
