Which product is an example of a good with inelastic demand life-saving medicine a particular brand of chewing gum television sets computers?

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1207905

2026-05-19 23:10

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A life-saving medicine is an example of a good with inelastic demand. This is because consumers will continue to purchase it regardless of price changes, as it is essential for their health and survival. In contrast, products like Chewing Gum, television sets, and computers typically have more elastic demand, as consumers can forgo or substitute these items based on price fluctuations.

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