In the world of fashion, the power to imitate a trendy look is the power to make money. Stores such as H&M and Forever 21 focus on imitating fashions wherever possible: As soon as they see that a new look is coming along, something people are willing to pay a high price for, they start cranking out that look. Do these imitation-centered stores make the supply of clothing more elastic or less elastic? Explain.

An elastic product is one that is easily affected by the change in pricing, and a high percentage of consumers might stop buying it. On the other hand, a less elastic (Inelastic) product or service is one that consumers continue to buy despite changes in pricing.

Because most human beings like to look trendy with the latest fashion style available, imitation-centered stores make the supply of clothing less elastic.

People will keep buying trendy outfits to look good despite an increase in pricing.

Companies that offer highly competitive services or product have a more elastic form of business because consumers have other alternatives to buy from.

Businesses that offer less competitive goods and services operate a less elastic form of business since consumers have fewer options to choose from and will keep buying despite price change.

Since H&M and Forever 21 are big clothing brands, they run businesses that are less competitive in nature, making their supply of clothing less elastic.