alleryMatch product traits: 1. Need: p. Inelastic 2. Luxury: q. Elastic 3. Life: r. Survival
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
Necessities essential for daily survival exhibit inelastic demand, whereas discretionary luxury products exhibit elastic demand.
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