In Lesson 6, we learned about elasticity and how some goods and services are considered "elastic" and others "inelastic." Identify 2 items you buy on a regular basisone that is elastic and one that is inelastic. Answer the following prompts: 1. What factors contribute to placing these 2 items in the category you did? Explain these factors. 2. Do you feel your PED (Price Elasticity of Demand) is the same as other consumers for these 2 items? Why, or why not? 3. What factors could change the categories you placed your 2 items in? (In other words, what would change your "elastic" item to "inelastic" and vice versa.)