briefly explain availability of close substitutes and nature of the product as a factor determining price elasticity of demand
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If consumers can substitute the good for other readily available goods that consumers regard as similar, then the price elasticity of demand would be considered to be elastic. If consumers are unable to substitute a good, the good would experience inelastic demand.
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Destroys life in the water based ecosystem which is polluted which in turn disrupts natural food chain. Aquatic life is destroyed due to the non-biodegradable pesticides and chemicals. Water pollution affects the microbial population. There is a steep increase in the BOD levels of water.
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