details inelastic demand for salt, matchbox,foodgrains,candle
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If the standard of living is already very high, the demand will be equally inelastic. It is because people will high incomes are less effected by the change in prices. ADVERTISEMENTS: Thus, whether the demand for a commodity is elastic or inelastic depends on various factor.
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inelastic demand, the demand for it will not be affected by the price of it. For example, if the price of salt increases, people will not buy less of it. They need their daily salt intake. The demand of salt is therefore price-inelastic.
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