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Categories most elastic in between least elastic Adidas Copa Mundials shoes soccer cleats

Option a) Shoes
Option b) Soccer cleats
Option c) Adidas products
Option d) Categories

User Eric Ness
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1 Answer

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Final answer:

The most elastic category among the options provided is 'Shoes' because it is the broadest category with the most substitutes available, making it the most sensitive to changes in economic factors.

Step-by-step explanation:

Elasticity in economics is a measure of how sensitive the demand for a good is to changes in other economic factors, such as prices or consumer income. Generally, the broader the category, the more elastic it is because there are more substitutes available, and consumers can more easily switch to another product within that category if the price changes. Option a) Shoes are the broadest category and thus would be the most elastic. There are many types of shoes with various price ranges that consumers can choose from. Option b) Soccer cleats are more specific than shoes, but still offer some level of substitutability, making it somewhat elastic. Option c) Adidas products represent a narrower market since it is limited to products from a specific brand, which reduces elasticity compared to more general categories. Lastly, Option d) Categories itself is not a product or market but a concept, hence it's not applicable.

User Skzryzg
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