Respuesta :
A good like water has few substitutes and takes up little of our income to purchase. As a result, its demand is likely to be inelastic.
inelastic products are usually a necessity and have no acceptable replacement. The most common commodities with inelastic demand are utilities, prescription drugs, and tobacco products. Companies that offer such products maintain flexibility in pricing because demand remains constant whether prices rise or fall.
Inelasticity is an economic term that refers to the static quantity of goods or services as prices change. Inelasticity means that consumers' buying habits stay roughly the same when prices rise, and consumers' buying habits stay the same when prices fall.
Learn more about inelastic here
https://brainly.com/question/2396092
#SPJ4
