Question: Determining Demand Elasticity 1. Can the purchase be delayed? a. Yes =elastic b. No= inelastic 2. Are adequate substitutes available? a. Yes= elastic b. No

Determining Demand Elasticity 1. Can the purchase be delayed? a. Yes =elastic b. No= inelastic 2. Are adequate substitutes available? a. Yes= elastic b. No = Inelastic 3. Does the purchase use a large portion of income? a. Yes = elastic b. No= inelastic Using the determinants above, decide whether the following products are elastic or inelastic. Does the Can the Are adequate purchase use a Elastic or Product purchase be substitutes large portion of Inelastic? delayed? available? Income? Gasoline Fresh Produce Insulin Bluetooth speaker Beef North Face Jacket Uniform Nike shoes Cell phone Antibiotic t. V. Tobacco

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