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- Inelastic goods are goods whose demand does not change much with changes in price1234.Some examples of inelastic goods are1234:
- Prescription drugs and essential medications
- Addictive things like cigarettes and drugs
- Fuel and gasoline
- Utilities like electricity, water, and heating
- Basic food items like bread, rice, milk, salt, etc.
- Precious items like diamonds, paintings, antiques, etc.
- Products/services sold by monopolies
- Healthcare services
- Post-secondary education
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Common inelastic goods include petrol, salt, water, products/services sold by monopolies, cigarettes, and diamonds.www.investopedia.com/terms/e/inelastic.aspGiven below are some of the examples of inelastic goods or products – Life saving Medicines Addictive things like drugs and cigarettes Fuel Food products like Milk, Salt, rice, wheat, fish etc… Precious items like famous artist painting, antique vase, celebrity accessory and so on.www.letslearnfinance.com/examples-of-inelastic-go…Now that we’ve defined and understood how to calculate inelasticity, let’s explore some common examples of inelastic goods:
- Medications: Prescription drugs and essential medications often fall into the category of inelastic goods. ...
livewell.com/finance/what-is-inelastic-definition-calc…Examples of inelastic demand
- Prescription drugs
- Tobacco products
- Water
- Natural gas
- Electricity
www.indeed.com/career-advice/career-developme… - People also ask
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