Question

difference between elastic products and inelastic products.. no scamming.. for project​

Answer 1

Answer:

⏩Elastic products:- These are the type of goods and services which generally have a plenty of substitutes.As an elastic service/good's price increases, the quantity demanded of that good can drop fast.

⏩Inelastic products:-A situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price.