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Demand for food doesn't change in response to a change in price. Why?

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User Genba
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2 Answers

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The price of elasticity of the product maybe considered inelastic since there is little to no responsiveness to the change in price of the product. A factor or reason can be that it is a necessity so persons still have to buy the product no matter the change in price.
answered
User Luis Rizo
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3 votes

Answer:

Demand for food is inelastic

Step-by-step explanation:

Inelastic demand means that people buy about the same amount of goods whether the price drops or rises. In this case, food demand doesn't change in response to a change in price. This behaviour is common with things that (despite the price) people must have, like food or gasoline.

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User Larsivi
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