Multiple Choice 1 point Which of the following factors is MOST likely to make a good DEMAND INELASTIC? Availability of substitute goods Popularity Necessity for Survival Advertising

## Step 1<br />The concept of demand elasticity is a measure of how sensitive the demand for a good is to changes in its price. The demand for a good is said to be inelastic if the demand does not change significantly with changes in price.<br /><br />## Step 2<br />The factors that can make a good have inelastic demand include the availability of substitute goods, the popularity of the good, the necessity of the good for survival, and advertising.<br /><br />## Step 3<br />Among these factors, the necessity of the good for survival is the most likely to make a good have inelastic demand. This is because even if the price of the good increases, the demand for it will not decrease significantly because it is necessary for survival.