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Income Inelastic
Referring to goods or services whose demand does not significantly change as people's income levels change.
Price of Sugar
The cost at which sugar is sold in a market, influenced by factors such as supply, demand, production costs, and market conditions.
Quantity Demanded
Represents the total amount of a good or service that consumers are willing and able to purchase at a given price.
Relatively Inelastic
Describes a situation where the demand or supply of a product is not significantly changed by alterations in price.
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