Solution: Analysis of Price elasticity Task 3: Enumeration on Price Elasticity of Goods Directions: Please conduct a survey or observe the market in your vicinity. This can make you aware of your environments. Give examples of goods considered as elastic and inelastic. You may work with your parents and siblings.
elastic goods
1
2
3
4
5
inelastic goods
1
2
3
4
5
elastic goods
1
2
3
4
5
inelastic goods
1
2
3
4
5
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Answer:
elastic goods
-softdrinks
-cereal
-clothing
-electronics
-cars
Inelastic goods
-life saving medication
-gas
-electricity
-cigarettes
-post secondary education