Inelastic Consumer Value

Every consumer is counting the expenses based on his own income, depending on the priorities required to meet certain needs or simply for pleasure. Many people urgently need certain goods or products and they are looking for the right moment to buy them because they are intuited with an upcoming price change that often does not fit the forecasts. At the same time, many others desperately want a certain product, more or less necessary, even if it is an elastic or inelastic product, regardless of the price. I would like to present you, as an inelastic product in my household, the internet, through the price pretended by internet providers. It is proven that whenever supply services have increased, consumer value has not changed as much as expected. Although the Internet price has risen in recent years by the speed and capabilities that are much easier to navigate, the fact that we have become somewhat dependents on this technology makes the number of consumers who give up this service, insignificant. …show more content…
Skis can be considered as an elastic product, because depending on the climate changes in the last couple of years, not having so much snow makes the prices charged for a day of ski have increased considerably. Traveling to other areas, more rich in snow, but providing much cheaper services, automatic is coming with additional costs. Even if we have to reconsider this option, as a substitute, we chose the option to rent, detrimental at the expense of investing in new equipment. To answer the question of what makes these goods elastic or inelastic, I think the most appropriate answer would be necessity and desire. The need for a certain good to me in the household can be just a simple mood or a desire for other households, and vice