Answer:
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Step-by-step explanation:
>> Some examples are:-
1) A good example of elastic demand is housing. There are so many different housing choices. People could live in a townhouse, condo, apartment, or even with friends or family. Because there are so many options, it’s easy for people to not pay more than they want to.
2) Clothing also has elastic demand. True, people have to wear clothes, but there are many choices of what kind of clothing and how much to spend. When some stores offer sales, other stores have to lower their clothing prices to maintain demand. Small stores that can't offer huge discounts go out of business. During the Great Recession, many clothing stores were replaced by second-hand stores that offered quality used clothing at steeply discounted prices.