Consider some determinants of the price elasticity of demand: • the availability of close substitutes • whether the good is a necessity or a luxury • how broadly you define the market • the time horizon being considered a good without any close substitutes is likely to have relatively elastic demand, since consumers cannot easily switch to a substitute good if the price of the good rises. a good’s price elasticity of demand depends in part on how necessary it is relative to other goods. if the following goods are priced approximately the same, which one has the least elastic demand

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

lots of credit card rewards

1. avoid them

2. a talk with them

3. ask someone you trust

4. ignore

5. call police

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