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URGENT PLEASE! APPLIED ECONOMICS. Part I. Direction: Observe the market in your community or think about the goods and services offered in your area. From

URGENT PLEASE! APPLIED ECONOMICS.

Part I. Direction: Observe the market in your community or think about the goods and services offered in your area. From your observation, give examples of goods that are considered to be elastic and inelastic.

ELASTIC GOODS

INELASTIC GOODS

Part II. Explain why you think those goods are elastic and inelastic. (mini-mum of 5 sen-tences)

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ELASTIC GOODS	INELASTIC GOODS