Quote:
Originally Posted by FacePaint
Are you being genuine here? You are being very general here... no specific food or form of energy is perfectly inelastic.
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Well nothing is perfectly inelastic (is it ? Been 20 years since economics ) , but food and energy - especially for your home - are 2 very strong examples of inelastic goods
It was in reply too “people have less money so they will spend less on these things and pricing will go down” - which isn’t (overly) true. Maybe gasoline for cars and food to treat yourself will get cut down on - but not eggs , bread , and natural gas for furnaces