Can You Think of an Example of a Good Whose

question 240

Essay

Can you think of an example of a good whose demand could be perfectly inelastic?

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Definitions:

Customer Loyalty

The likelihood of previous customers to continue buying from a company, often as a result of their positive experiences or satisfaction with products and services.

Business Selling

The process of selling products or services directly to other businesses rather than individual consumers.

Sales Call

A communication method, often a phone call or face-to-face meeting, initiated by a sales representative towards a potential buyer to sell a product or service.

Small Talks

Casual or informal conversation about non-essential or trivial topics, often used to initiate social interaction.