2. Substitute Demand: "Meteor strikes Coka-cola factory. Coke productions halted. Pepsi sales increase dramatically."
3. Elastic Demand: "Prices for new iPhone triple! Only 7 sold in the past month."
4. Inelastic Demand: "Sudden rise in portable oxygen prices takes users breath away."
The full story here:
The prices for portable oxygen have been dramatically increasing
and people who are reliant on them must pay for these ridiculous prices. With
oxygen being a must have for every person these people don’t have a choice,
they must buy the oxygen. There are no alternatives to it, and they can’t just
stop using it either. “I have had to cut
back on many of my other, non-essential, items. I don’t need any of them as
much as I need access to a portable oxygen supply.” says Guy McPerson, who had
smoked for years before he quit and now relies on his portable oxygen to help
him breath. Guy is not the only one who has had to cut back on their more luxurious
items to fill their need of this necessity. We hope that soon the price for the
portable oxygen tanks that these people need will go down so that they can
enjoy their luxuries once again.
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