9
QuizMultiple Choice

Elasticity and Incentives

Question 9 • (Galli)WCA 2221 Civics/Economics 1st nine weeks 26-27

Goods that are considered to be needs tend to be

Answer
A
elastic when the price changes.
B
inelastic when the price changes.
C
elastic when the supply changes.
D
inelastic when the supply changes.

Explanation

People generally continue buying necessities even when their prices rise or fall, so the quantity demanded changes relatively little. That makes needs inelastic with respect to price, so the correct choice is “inelastic when the price changes.”

AI-written and checked against the verified answer.

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