'''Necessities''' are goods for which demand is [[inelastic]]. An increase in price for these goods does not reduce the demand much, because these goods are essential and many people will buy them regardless of price. [[Income elasticity of demand]] for a necessity is less than one. [[Category:Economics]]<big><big><big><big><big><big><big><big><big>fück<br><br><br><br><br><br> you!!!!!
