Question

Elastic demand of commodity is normally found in case of

Answer 1

Answer:

government and the water bodies Elastic demand of commodity is normally found in case o

Answer 2

Elastic demand of commodity is normally found in case of luxuries.

1. When there is a little increase in the price of luxury goods people will completely withdraw their demand. However, a drop in the price will attract a lot of customers towards them.
2. Luxuries are not necessities therefore there demand can be easily postponed.
3. For e.g. demand of jewelleries, cars etc.