Which of the following groups of goods have inelastic demand?

CA Foundation · Business Economics · MTP · June 2024
Which of the following groups of goods have inelastic demand?
(A) A. Salt, Smart Phone and Branded Lipstick
(B) B. School Uniform, Branded Goggles and Smart Phone
(C) C. Salt, School Uniform and Medicine
(D) D. Medicine, Branded Sports Shoes and Diamond ring

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. Salt, School Uniform and Medicine

Topics: Nature & Scope of Business Economics

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