Q.

The demand for necessities is -

A. elastic
B. perfectly inelastic
C. inelastic
D. perfectly elastic
Answer» B. perfectly inelastic
Explanation: Inelastic demand means that if the price changes, the quantity demanded will not change much. The more necessary a good is, the lower the elasticity, as people will attempt to buy it no matter the price. Necessities such as water are likely to have perfectly inelastic demand.
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Economics (GK)

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