"Jean prices at an all-time low, boxer sales soar!"
2. Substitute:
"Gas Prices skyrocket to $100/gallon, bike sales ignite.
3. Elastic:
"Oreo prices go through the roof, sales plummet."
4. Inelastic:
"Milk prices mooooving up, sales unaffected"
Milk is a common commodity that is generally always going to be in demand. People use milk in just about everything, from your cereal in the morning to a glass of the stuff with dinner. Even with all of the substitutes like soy and almond milk, many people tend to stick with the classic milk from a cow, in my opinion, the best. It's inelasticity comes from it's wide range of uses in cooking, baking, and regular consumption. Many people, such as myself, are unable to move onto the new craze of milk substitution.
No comments:
Post a Comment