question archive Which has a more elastic demand: fast food or vegetables? Explain your answer
Subject:EconomicsPrice:2.88 Bought3
Which has a more elastic demand: fast food or vegetables? Explain your answer.
Vegetables have a more elastic demand.
If it's easy to find a substitute for a particular product, it's considered more demand elasticity. On the other hand, if it's challenging to find a substitute for that product, it's considered less elastic demand. Also, if there are many substitutes for that particular product, it's considered more elastic and less elastic if its substitutes are few. There are several types of vegetables in the market, making its demand elasticity more than the one for fast foods.