This question is about elastic demand vs inelastic demand.

What s an example of a good with an inelastic demand?

By Zippia Team - Dec. 7, 2022

An example of a good with inelastic demand is medicine. Medicines are often inelastic both in that they're necessary - you need to take your prescribed medicine daily - but also in that there's often not a substitute for it.

In terms of something like insulin, there may be some different brands of it, but it's not something that can be swapped out for another medicine that'll do the same thing.

What s an example of a good with an inelastic demand?

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