Need 1-7 answered

Page 1 > of 5 - ZOOM + 1. How would you explain ELASTICITY to someone so that they could better understand this concept? Please put it into your own words 2. Name four things you buy in a typical month that have ELASTIC price elasticity of demand. 3. Name four things you buy in typical month that have INELASTIC price elasticity of demand 4. List and explain one example of a product or service that has INELASTIC price elasticity of demand and ELASTIC price elasticity of demand, depending on the situation or circumstance. Why does the elasticity change when the situation changes? 5. Do the things that you buy with ELASTIC or INELASTIC price elasticity of demand tend to be higher priced? Why? 6. From a seller's perspective, would they prefer to sell things that are price elastic or price inelastic? Why? 7 From a buyer's perspective, would you prefer to buy things that are price elastic or price inelastic? Why