Question: Is sugar an elastic or inelastic commodity? How demand is being affected by prices changes? What else can you say in relation to the concepts

Is sugar an elastic or inelastic commodity? How demand is being affected by prices changes? What else can you say in relation to the concepts discussed in elasticity? Support your explanation with data, facts, and references.

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5. It is the needs of the individual that are important.

6. It is what the person has previously done for the group that is the deciding factor.