Consider your own consumption habits: which good in your budget is most price elastic? Which good in your budget is most price inelastic? I'll let you go on this one for a bit, then I will chime in with my own responses.
That is easy. For my most elastic good would be Fast Food, as I can cook for myself. So it is not something that I would need to spend money on.
For Inelastic, I probably will speak on behalf of most of the class here when that would be Gasoline. Due to the fact i need to drive a lot, especially just to get to this school and home, i would defiantly need to set aside my income to make sure i have enough to fill up my tank.
I would say vacation trip is elastic for me, since I do not need the trip for daily life; and maybe some movies as well, since I can watch the movies online. For food and room rent fee, I think it is inelastic for me; as long as I live in the U.S., I have to pay the food and rent fee.
For elastic, i would say Starbucks i drink it everyday even though i know i don't have to buy it i still do. Another one would be fast food i can simply bring food from home my mom always makes me lunch but i still end up buying fast food
And for Inelastic, i would also say gasoline although I'm trying to change that and this quarter i have been carpooling even though i have to stay an hour later.
For me, clothing and shoes would be my elastic goods. Even though I do buy a lot of clothes and shoes regularly I would stop if the price goes up or my income goes down. As for my inelastic good, it would have to be my cell phone, and credit card bill. This is because I have a contract on my cell phone, and I do not want to get bad credit by missing my credit card bill.
For me elastic goods can be a new phone or a laptop. If I don't have extra money even though I really want an iphone I can still hold back. However stuff like textbooks and gasoline are inelastic goods that no matter how shocking the prices get I still need to purchase.It is just you have to have these things for your daily life because they can not be replaced.
For me, elastic goods can be university dormitory. I am live in Arrow Village, but I can live in University Village as pay much money. However, I don't care sharing living room and bathroom. Better environment is less important than the price.
For me, inelastic goods can be iphone. I really really like using iphone. Iphone is more important than the price. Actually, I am looking forward to buy Iphone 5.
Inelastic goods for me are gas and tuition at CSUSB, no matter what I'm still going to pay for it. Elastic goods are new clothes, I may want something new but I don't have to have it, I can wait until the price goes down.
For me an elastic good would definitely have to be shoes, I really have no need for so many pairs but I constantly buy them just because. When it comes to inelastic goods that would definitely have to be gas since regardless of the price I need to buy it in order to get from point A to B.
An elastic good would have to be makeup. I use dior currently but if it goes up i would either use something like mac or just not use it at all everyone tells me I look the same with or without it. An inelastic good would have to be my cellphone, I'm from Seattle and I need to keep in touch with my parents daily, I call them more than they call me!
elastic good for me is going out to nice restaurants, if i cant afford it i wont go. an inelastic good for me is diet dr pepper i wake up every morning with one, no matter how expensive it it i have to have my daily dose.
I buy purses very often, that would be an elastic good for me. I don't need to buy a purse every week or every time I see one that I like.
An inelastic good would definitely be GAS! Even if the price was to be twice as what the price is a gallon right now I would still fill my tank up. I have to drive to school and to work everyday.
Two elastic goods for me would be eating out and playing billiards. I should really start bringing lunch more often since I don't really need to eat out all the time. I also don't need to play pool as much as I do sometimes.
An inelastic good to me would have to be gas. I commute for almost an hour (more or less) to school depending on the traffic and need the gas to get to school. I have no choice to drive either since there are no bus stops anywhere near where I live. ]:
Even if this comment almost sounds kind of nerdy but I'd have to say books, ranging from text books to leisure reading books would have to be elastic for me. As far as text books, I've been relying more on libraries, including our campus and local libraries, to find text books I may need. Also, after paying $1-4 for old books, I don't like purchasing new ones. An inelastic good in this case would definitely be classes. Either way I'm going to have to fork out money to finish my Bachelors which ultimately makes other goods for me inelastic such as gasoline (as some of my peers have already mentioned).
Well the first thing I can think of are Inelastic goods and for me that is going to be the classes and gas. Right now the gas prices are going up but i still drive a lot and pay for gas. Some of the Elastic good are going to be groceries if something goes up in price there is always a replacement for it or some substitute for it.
For me the good that is elastic is fast food. I do not have to eat fast food to survive i can make food at home. The good that is inelastic is gas since i need gas to go to school and to work.
Basically anything I buy with my crdit card is elastic unless its an emgerncy. With my credit card I purchase fast food, new cloths, movie ticket, and so on. Goods like my gasoline for school, books, toothbrush, or rent are inelastic for me.
An elastic good for me wound be a new cell phone. My cell phone is very out dated but because of money issues i am waiting to get a new one. An inelastic good for me would be gas. I drive a lot and i drive an expedition, which takes so much gas, but because i have to travel by car, i need the gasoline.
My elastic would be eatting fast food everyday. i could always bring snacks with me or pack a lunch when i go to school. My inelastic would be gas for more car. Yes i could use public transportation but taking my car is much easier.
An elastic good for me would be new clothes because I don't really need them. An inelastic good for me would be gas as well because no matter what the price is, I would stil need it to get around
An elastic good for me would have to be going to the movies. My girlfriend and I enjoy going to the movies many times a month, but I would think twice if we did not have our asi box office discount. 11-12 bucks for a movie they must be crazy!!!! An inelastic good for me is gasoline, and hi-c fruit punch. i have to drive to both of my jobs and drive to school so gasoline no matter the cost is a necessity. Also I fiend for Hi-c flashin' fruit punch and i will pay no matter the price.
An elastic good for me would be purses. I love purses whether they are brand named or not I have an addition of buying any purse that catches my eye. But if the prices go up or its too expensive i won't buy it. For example, brand named purses are great! Coach is one of my favorite but I know I will still live if I can't have the one that caught my eye.
An inelastic good for me would be starbucks. It used to not be but now I'm one of those who can has get coffee from starbucks if there is one in the area. Sometimes i'm not even aware of how much it cost sometimes until i finally realized I'm broke =/
it seems like everyone has been making their inelastic good gas. i think differently, i believe that it is elastic. it is easy to cut down on gas use when prices are high by dusting off the good ol' bike. i live in riverside and i have school three days a week in san bernardino and a special someone in corona, the complete opposite direction. thats a ton of driving! so i now ride my bike 17 miles to her house and 17 miles back, that helps cuts down on gas.
as for an elastic good it would have to be food. i gotta have my food. 16oz rib-eye, and mash potatoes. no way am i substituting good food for cheap food.
The most elastic good for me would have to be going to the movies on weekends. Growing up we always went to the theatre every weekend.Now that I am older and pay for my own things I can not figure out how my parents were able to do that with eight kids. So,if I go once a month it should be okay. The most inelastic good to me is coffee. Without coffee I would not function. It can cost $20.00 a bottle and I would fit it into my budget. There is not getting around my cup of joe in the morning.
The most elastic good for me would be new clothes every two days. It got into the habit when mom took me to the mall by the time i got to high school. I have so much clothes i think i can survive without shooping too much. The most inelastic good for me would be punching bag. I cannot live without it. Without the punching bag i wouldnt be able to take out stress from anything or anyone. its like a muscle relaxer for me.
For me, elastic goods would be eating out at restaurants with friends and roommates a lot. Though we could spent our time cooking, we don't and end up eating out a lot when we don't need to. Inelastic is something majority of the students have mentioned, which is gasoline. No matter where I go or how the gas prices are, I need gas to drive my car to get me there.
Drinking soda is an elastic good for me because i don't feel it worth the money and drinking too much of it isn't good for my health.However, orange juice is inelastic good for me i must have every day instead of soda.I have to drink it almost everyday with my daily meals.
For me the coffee is an elastic, if the price of coffee goes up I will drink tea instead because it will be cheaper.However, smoking tobacco is inelastic for me because I am used to it and even though if the price goes up I will still be willing to pay to purchase it.
Elastic good for me is video game. I often played it when I was a child. However, I don't play it so much now. If I have a lot of money, I will buy the other things instead of video game. I don't need it. Inelastic good for me is laptop. I use laptop every day to do many things such as watching movie, listening music, homework, using skype. If I don't have laptop, I can't do anything. I don't mind how much I would pay to buy laptop.
For me, elastic goods are Apple laptop and Iphone. If the price of Apple laptop and Iphone go up, I would not buy them anymore. Even though I want to change my computer I will not buy Apple. The inelastic goods for should be gasoline and foods. Because I have to drive my car to go to school or somewhere even the gasoline become expensive I still need to buy it. for the same reason, I need to eat foods everyday so that means I will buy foods whether the price goes up.
For me, elastic goods would be electronical production, because I'm notalways need to use electronical production, I just need to use laptop and IPod. Maybe I'm focus on some production on some production of Apple, but if the price is insreasing, I think I don't need to use it so much. Clothes are inelastic goods for me, I always shopping, and buy some clothes in my favorite brands, maybe sometimes the price is expensive, but I can't control myself, I always buy some clothes that I like them, and overlook the price.
For me, I think the most elastic goods is the clothes and shoes. Because those things are all can decide from my own. If I needed, I will buy a lot, if something is I rellay liked, I also would buy a lot of this. Something I did not like too much, I would never buy it. That is all can control. For the Inelastic, I would probable say the cellphone is we really needed. Because we need contract people during our lifes for all the time. Cellphone will be the most easy way that we can get in touch with other people. So we need pay for every mouth.
The most elastic things for me can be clothes, fast foods, stationery, and so on. The principle is that once the price of a specific brand of clothes exceeds my self-receivable price, I won’t buy it until it discounts to the price consistent with my willing price. The raised price of the fast foods, especially provided by the school, will deter me to buy them even if I was hungry. Because there is a plenty of substitutes for those fast foods, it would be natural for me to choose other types of food which are more nutrient and cheaper. Some stationery also would not fall into the consideration for me to buy if the price hikes to a large distance. It is true that a variety of brands of stationery are present to substitute for those asking a higher price. On the other hands, for the goods which have a fewer substitutes and can be characterized as the necessities to perform a specific course or activity, an inelastic effect would be enjoyed. For example, the required textbooks for each class, the calculator for the specific curriculum, the laptop for the Internet and studying, etc, all of the above is bounded to buy no matter how intensively the price has been raised up. Most of the inelastic stuffs for me are the goods which do not have so much substitutes and there is going to have more opportunity costs without them.
For myself, the most elastic items that i consume are money on games and clothes, just because I don't really need to spend money in those areas when I have other things of more importance. Inelastic for me would be gas, if I want to go to school I'm going to need a vehicle to get there because I live too far, in my opinion, to be willing to try other methods of transportation.
The elastic goods I buy are shoes & fast food. I really dnt need them at the time that I buy them but it's just a temporary relief when I buy them at the time lol. The inelastic good would be my car insurance , got to have coverage =)
My elastic good would definitely be fast food (I found just how ridiculous the amount I'm spending on food alone!). If I made the effort, I could spend a little less by packing my own lunch and eating at home for dinner. Life on-the-go... Another could be my car payment because I can sell it and buy a different car (used/cheaper) to eliminate/reduce monthly payments.
My inelastic goods would include gas $ I use to contribute to carpooling to school, and probably my cell phone payment because I need to have access to the internet at the palm of my hands (I don't always have access to a laptop or desktop, so the smartphones are handy).
For me probably food...as the elastic I mean. I'm not a very picky eater nor am I a big food person so whatever is cheap and doesn't make me projectile vomit is fine.
Video games and books are inelastic for me. No matter the price change, unfortunately I am willing to spend that amount to purchase these entertaining objects.
An elastic good for me would be buying a ticket to see a lakers game.. plus i would spend a lot in gas, drinks and food.. I'd rather watch it in TV.. an inelastic good for most of us is gas.. even though the price is really high.. we have to buy it!
A elastic good for me would be purchasing new clothes , when I have enough clothes for the season. It's nit necessary for me to buy clothes all the seasons. A inelastic would be the purchase of gas and food , Wich is a daily use in my life. 003717102 Manuel Marroquin.
The most elastic good for me, like what many people have posted on here, is eating out (fastfood, restaurant, etc...). Instead of eating out, I save myself money by making all my meals at home and bringing my lunch with me every day. The most inelastic goods for me are gas and food/water (since I need gas to get to school and back, and food/water for basic subsistence). -Matthew Miller
Shopping for clothes would probably be my elastic good. The last thing I need is new clothes but I'm such a sucker for sales. If it's a good price I can't resist but once it's out of my price range, clothes don't look so cute after all! Chapstick and gas are both inelastic for me. I always need to have a chapstick with me, and if I lose it, I book it to a store and buy myself a new one. I work in moreno valley, live in riverside, and go to school in san bernardino, so a girl has got to get around somehow, and gas is a necessity even if gas prices go up to $5! :'( -Jenna Halili
My most elastic good would be eating out. I eat out even when I know I can cook for myself or find food at home. However, if my income went down, restaurants would be the first thing to go. An inelastic good for me is my cell phone, I depend on my phone for everything and even with a change in my income, I would find a way to pay for my phone service.
My elastic good would be going out to shop for clothes. I know Im in a tight budget, especially being a college student but I can't help if I see the most beautiful dress at forever 21. Thats why I always try to shop when theres a huge sale because then I would be getting more clothes for cheap. My inelastic good would be my phone. Since I don't live with my mom I use it everyday to call her. I basically use it 24/7 and its a necessity to me. If the bill went higher I would find a way to pay for it.
My elastic good would have to be movie tickets. My friends and I go to the movies all the time, no matter how much money I have if I get a text telling me they are going to the movies i'm going with them. My inelastic good would have to be gas just because I drive to cal state 5 days a week and i'm not going to quit school just because of gas prices.
The most elastic good is buying energy drinks because im addicted to them and i dont need them i just want them and my most inelastic good is gas because i need it to travel to school.
An elastic good that I constantly use at CSUSB are the scantrons. Every quarter I'm expected to arrive, prepared with one of the various scantrons:blue, green, or red. Being a student, I've learned that I'm able to receive FREE SCANTRONS from the CENTERS IN THE STUDENT UNION, or obtain the majority of the scantrons in the FREE FINALS GIVEAWAY PACK. I'm able to save money, instead of having to pay out of my pockets at the Coyote Bookstore, the vending machines in the Pfau Library, or the Coyote Market.
An inelastic good that I consume daily is water. People around the world, including myself would pay the price of water as they are paying for the price of gas, although our bodies require water to live. Many of the different products we as consumers purchase today lists water as a main ingredient, and use water for multiple reason between house, school, and work. Water is very valuable economically and agriculturally, and many of use large quantities of water, however we have the authority to use less water in many areas of our lives.
For the elastic goods must be clothes and shoes, I usually consider the price and wait it until Chirismas or thanksgiving. It have a lot of discount on those stuff. For the inelastic goods for me must be the car. The car is transpot for me, when you have one it is enough for me, and I won't buy another. Even I don't like the price.
my elastic good would have to be fast food. i can live without it since i can make my own food. my inelastic good is gasoline. Since i have to go to school and work i need it for everything.
in my opinion, i have to use elastic goods everyday. for example, my fvororite elastic good is food. i can eat outside or cook by my self.inelstic goods is my car and gasoline, i need it but i don't add gasoline everyday.
An elastic good for me would have to be buying new cloths as well when i already have a closet full of cloths. An inelastic good for me would have to be gas because i need it to get to and from school and get to work everyday.
As I'm an international student, my monthly budget depends on the amount of money that my parents send. First, the most elastic goods are groceries. If I have lots of money in my bank account, I'll buy more expensive foods than usual. However, when I'm in a short of budget, I'll buy more frozen foods or instant ramen.(Instant ramens are very eaxy to cook, and very cheap first of all!) Second, the most inelastic goods are cigarettes. I'm trying to quit smoking, but still a smoker anyway. So, no matter how much money remains in my pocket, I would buy cigarettes with no hesitation. However, if there is a slight change of my cigarette consumption pattern in the long-run, it would be the matter of the cigarette choice. I would buy a 'bugler' instead of a pack of marlboro, which is twice cheaper.
The most elastic thing in my budget right now is most definitely off campus food. It's because I live in the freshman dorms so i'm required to have the meal plan and everything so the food on campus is perceived to me as being cheap because its all prepaid. kinda sucks when i'm sometimes forced to say "I'll eat when I get back to school because its free" because of my lack of real money after spending it on gas, which would be my most inelastic good. I go to my church at least twice a week for, well, church, and for band stuff so doing that stuff is a must for me so gas is my most inelastic good. Plus i like to shop so i need to get there somehow.
An elastic good for me would definitly be fast food. I eat in a hurry to much or am just to tired to cook so I go get fast food. An inelastic good for me would have to be gas because without gas I couldn't get home to see my family or friends and they are the most important thing in my life.
Inelastic goods for me are tuition, meal plan and books. There is no way I can get out of paying those without majorly affecting my daily life. Elastic goods would be outside food on the weekends when I can just eat off my meal plan.
My elastic good would be watches. I do not need as many as I have and I don't need those others that I am probably going to buy. My inelastic good would be books for school. some people don't feel like they need to buy all the books, I feel like i do. I always buy all the books. (this was the first time that the blog allowed me to post this)
My most elastic good would be clothes and things I do when I go out such as going to the movies and fast food. Its hard not to eat fast food when Im not at home. My most inelastic would be groceries because this helps me save money and eat better.
Elastic for me would be accessories for my truck i buy them to make my truck look better but i really don't need them. Inelastic would be water i drink it everyday and its a necessity.
An elastic good for me would be Hello kitty products. I own a few, well a little more than a few that i have bought over the past years. If the price for a Hello Kitty product that i want is too high i would talk to my wallet before i buy it. It woild be $30 and up for a Hello kitty wallet depending on the materials and designs. An inelastic good would be gasoline, which i get from costco because its cheaper, but its a must get no matter how high the price gets because i need to get to school and work. Another elastic good is buying banannas no matter what the price is because it is one fruit that I need in my daily breakfast because it keeps my full for a few hours and is cheaper than buying eggs and cereals all the time on top of cereals i have to buy milk too, so bannanas will do the trick for me.
Abdullah: here's to orange juice! We drink a lot of it in my home. John K: glad your post showed up! The Harris family does not have cable anymore (too expensive!), so we download stuff on Hulu if we want to watch tv and our inelastic item is....gasoline, like so many of you have explained.
the most elastic item that I can purchase would have to be electronics. I buy something new every week because i work at Best Buy. If I really found myself short on cash I would immediately stop.
The most Price inelastic item on my shopping cart would have to be gasoline as well. I commute quite a bit and without it I would probably go crazy. I probably wouldn't consider the train or bus either.
Gas by far will is the most inelastic item in my budget. I can truly say that if gas prices were to hit $6/gallon I would still fill the same amount I normally do every week. It's one of those items that you need as an everyday necessity. Yeah I can ride a bike to school or maybe carpool with a classmate. But my schedule varies drastically there for eliminating those options in my case scenario. An item in my budget that is price elastic would have to fast food. After classes are over instead of driving out to get fast food I can go home and make some home cooked meals. It's something that I can afford not to get due to the fact that I make it at home. Saving myself those $8 or $9.
At the moment my most price elastic good would gasoline as well. I drive 48 miles a day to work from Rialto to Brea and drive back to CSUSB, commuting it part of my daily life. If gas were to hit a higher price i would still consume, even if it meant trading in my 4 cylinder Honda Civic for a hybrid.
The most price elastic good would be my consumption of alcohol. Obviously not a necessity in any way shape or form
Gas is my price inelastic good while I would say that would be clothes, I'm not too picky and I try not to spend too much on items I might only wear once.
For me an good for me would be eating out with friends. I love cooking, yet by the end of the day it is easier to just order something r go to a restaurant. Now an inelastic good for me would my cellphone because my family lives far away and I need to be able to stay in contact with them.
That is easy. For my most elastic good would be Fast Food, as I can cook for myself. So it is not something that I would need to spend money on.
ReplyDeleteFor Inelastic, I probably will speak on behalf of most of the class here when that would be Gasoline. Due to the fact i need to drive a lot, especially just to get to this school and home, i would defiantly need to set aside my income to make sure i have enough to fill up my tank.
I would say vacation trip is elastic for me, since I do not need the trip for daily life; and maybe some movies as well, since I can watch the movies online. For food and room rent fee, I think it is inelastic for me; as long as I live in the U.S., I have to pay the food and rent fee.
ReplyDeleteFor elastic, i would say Starbucks i drink it everyday even though i know i don't have to buy it i still do. Another one would be fast food i can simply bring food from home my mom always makes me lunch but i still end up buying fast food
ReplyDeleteAnd for Inelastic, i would also say gasoline although I'm trying to change that and this quarter i have been carpooling even though i have to stay an hour later.
For me, clothing and shoes would be my elastic goods. Even though I do buy a lot of clothes and shoes regularly I would stop if the price goes up or my income goes down.
ReplyDeleteAs for my inelastic good, it would have to be my cell phone, and credit card bill. This is because I have a contract on my cell phone, and I do not want to get bad credit by missing my credit card bill.
For me elastic goods can be a new phone or a laptop. If I don't have extra money even though I really want an iphone I can still hold back. However stuff like textbooks and gasoline are inelastic goods that no matter how shocking the prices get I still need to purchase.It is just you have to have these things for your daily life because they can not be replaced.
ReplyDeleteFor me, elastic goods can be university dormitory. I am live in Arrow Village, but I can live in University Village as pay much money. However, I don't care sharing living room and bathroom. Better environment is less important than the price.
ReplyDeleteFor me, inelastic goods can be iphone. I really really like using iphone. Iphone is more important than the price. Actually, I am looking forward to buy Iphone 5.
For me, Elastic goods would be like fast food because i have food to eat when i get home that i can cook.
ReplyDeleteInelastic goods would probably be course books. I always have to set money aside for books they are a necessity and they are expensive.
Inelastic goods for me are gas and tuition at CSUSB, no matter what I'm still going to pay for it. Elastic goods are new clothes, I may want something new but I don't have to have it, I can wait until the price goes down.
ReplyDeleteFor me an elastic good would definitely have to be shoes, I really have no need for so many pairs but I constantly buy them just because. When it comes to inelastic goods that would definitely have to be gas since regardless of the price I need to buy it in order to get from point A to B.
ReplyDeleteAn elastic good would have to be makeup. I use dior currently but if it goes up i would either use something like mac or just not use it at all everyone tells me I look the same with or without it. An inelastic good would have to be my cellphone, I'm from Seattle and I need to keep in touch with my parents daily, I call them more than they call me!
ReplyDeleteelastic good for me is going out to nice restaurants, if i cant afford it i wont go. an inelastic good for me is diet dr pepper i wake up every morning with one, no matter how expensive it it i have to have my daily dose.
ReplyDeleteI buy purses very often, that would be an elastic good for me. I don't need to buy a purse every week or every time I see one that I like.
ReplyDeleteAn inelastic good would definitely be GAS! Even if the price was to be twice as what the price is a gallon right now I would still fill my tank up. I have to drive to school and to work everyday.
Two elastic goods for me would be eating out and playing billiards. I should really start bringing lunch more often since I don't really need to eat out all the time. I also don't need to play pool as much as I do sometimes.
ReplyDeleteAn inelastic good to me would have to be gas. I commute for almost an hour (more or less) to school depending on the traffic and need the gas to get to school. I have no choice to drive either since there are no bus stops anywhere near where I live. ]:
Even if this comment almost sounds kind of nerdy but I'd have to say books, ranging from text books to leisure reading books would have to be elastic for me. As far as text books, I've been relying more on libraries, including our campus and local libraries, to find text books I may need. Also, after paying $1-4 for old books, I don't like purchasing new ones.
ReplyDeleteAn inelastic good in this case would definitely be classes. Either way I'm going to have to fork out money to finish my Bachelors which ultimately makes other goods for me inelastic such as gasoline (as some of my peers have already mentioned).
Well the first thing I can think of are Inelastic goods and for me that is going to be the classes and gas. Right now the gas prices are going up but i still drive a lot and pay for gas. Some of the Elastic good are going to be groceries if something goes up in price there is always a replacement for it or some substitute for it.
ReplyDelete-Robert Arnold^^^
ReplyDeleteFor me the good that is elastic is fast food. I do not have to eat fast food to survive i can make food at home. The good that is inelastic is gas since i need gas to go to school and to work.
ReplyDeleteBasically anything I buy with my crdit card is elastic unless its an emgerncy. With my credit card I purchase fast food, new cloths, movie ticket, and so on. Goods like my gasoline for school, books, toothbrush, or rent are inelastic for me.
ReplyDeleteAn elastic good for me wound be a new cell phone. My cell phone is very out dated but because of money issues i am waiting to get a new one. An inelastic good for me would be gas. I drive a lot and i drive an expedition, which takes so much gas, but because i have to travel by car, i need the gasoline.
ReplyDeleteMy elastic would be eatting fast food everyday. i could always bring snacks with me or pack a lunch when i go to school. My inelastic would be gas for more car. Yes i could use public transportation but taking my car is much easier.
ReplyDeleteAn elastic good for me would be new clothes because I don't really need them. An inelastic good for me would be gas as well because no matter what the price is, I would stil need it to get around
ReplyDeleteAn elastic good for me would have to be going to the movies. My girlfriend and I enjoy going to the movies many times a month, but I would think twice if we did not have our asi box office discount. 11-12 bucks for a movie they must be crazy!!!!
ReplyDeleteAn inelastic good for me is gasoline, and hi-c fruit punch. i have to drive to both of my jobs and drive to school so gasoline no matter the cost is a necessity. Also I fiend for Hi-c flashin' fruit punch and i will pay no matter the price.
An elastic good for me would be purses. I love purses whether they are brand named or not I have an addition of buying any purse that catches my eye. But if the prices go up or its too expensive i won't buy it. For example, brand named purses are great! Coach is one of my favorite but I know I will still live if I can't have the one that caught my eye.
ReplyDeleteAn inelastic good for me would be starbucks. It used to not be but now I'm one of those who can has get coffee from starbucks if there is one in the area. Sometimes i'm not even aware of how much it cost sometimes until i finally realized I'm broke =/
it seems like everyone has been making their inelastic good gas. i think differently, i believe that it is elastic. it is easy to cut down on gas use when prices are high by dusting off the good ol' bike. i live in riverside and i have school three days a week in san bernardino and a special someone in corona, the complete opposite direction. thats a ton of driving! so i now ride my bike 17 miles to her house and 17 miles back, that helps cuts down on gas.
ReplyDeleteas for an elastic good it would have to be food. i gotta have my food. 16oz rib-eye, and mash potatoes. no way am i substituting good food for cheap food.
-Todd Cullen
The most elastic good for me would have to be going to the movies on weekends. Growing up we always went to the theatre every weekend.Now that I am older and pay for my own things I can not figure out how my parents were able to do that with eight kids. So,if I go once a month it should be okay. The most inelastic good to me is coffee. Without coffee I would not function. It can cost $20.00 a bottle and I would fit it into my budget. There is not getting around my cup of joe in the morning.
ReplyDeleteThe most elastic good for me would be new clothes every two days. It got into the habit when mom took me to the mall by the time i got to high school. I have so much clothes i think i can survive without shooping too much. The most inelastic good for me would be punching bag. I cannot live without it. Without the punching bag i wouldnt be able to take out stress from anything or anyone. its like a muscle relaxer for me.
ReplyDeleteFor me, elastic goods would be eating out at restaurants with friends and roommates a lot. Though we could spent our time cooking, we don't and end up eating out a lot when we don't need to.
ReplyDeleteInelastic is something majority of the students have mentioned, which is gasoline. No matter where I go or how the gas prices are, I need gas to drive my car to get me there.
Drinking soda is an elastic good for me because i don't feel it worth the money and drinking too much of it isn't good for my health.However, orange juice is inelastic good for me i must have every day instead of soda.I have to drink it almost everyday with my daily meals.
ReplyDeleteFor me the coffee is an elastic, if the price of coffee goes up I will drink tea instead because it will be cheaper.However, smoking tobacco is inelastic for me because I am used to it and even though if the price goes up I will still be willing to pay to purchase it.
ReplyDeleteElastic good for me is video game. I often played it when I was a child. However, I don't play it so much now. If I have a lot of money, I will buy the other things instead of video game. I don't need it.
ReplyDeleteInelastic good for me is laptop. I use laptop every day to do many things such as watching movie, listening music, homework, using skype. If I don't have laptop, I can't do anything. I don't mind how much I would pay to buy laptop.
For me, elastic goods are Apple laptop and Iphone. If the price of Apple laptop and Iphone go up, I would not buy them anymore. Even though I want to change my computer I will not buy Apple.
ReplyDeleteThe inelastic goods for should be gasoline and foods. Because I have to drive my car to go to school or somewhere even the gasoline become expensive I still need to buy it. for the same reason, I need to eat foods everyday so that means I will buy foods whether the price goes up.
For me, elastic goods would be electronical production, because I'm notalways need to use electronical production, I just need to use laptop and IPod. Maybe I'm focus on some production on some production of Apple, but if the price is insreasing, I think I don't need to use it so much. Clothes are inelastic goods for me, I always shopping, and buy some clothes in my favorite brands, maybe sometimes the price is expensive, but I can't control myself, I always buy some clothes that I like them, and overlook the price.
ReplyDeleteFor me, I think the most elastic goods is the clothes and shoes. Because those things are all can decide from my own. If I needed, I will buy a lot, if something is I rellay liked, I also would buy a lot of this. Something I did not like too much, I would never buy it. That is all can control.
ReplyDeleteFor the Inelastic, I would probable say the cellphone is we really needed. Because we need contract people during our lifes for all the time. Cellphone will be the most easy way that we can get in touch with other people. So we need pay for every mouth.
The most elastic things for me can be clothes, fast foods, stationery, and so on. The principle is that once the price of a specific brand of clothes exceeds my self-receivable price, I won’t buy it until it discounts to the price consistent with my willing price. The raised price of the fast foods, especially provided by the school, will deter me to buy them even if I was hungry. Because there is a plenty of substitutes for those fast foods, it would be natural for me to choose other types of food which are more nutrient and cheaper. Some stationery also would not fall into the consideration for me to buy if the price hikes to a large distance. It is true that a variety of brands of stationery are present to substitute for those asking a higher price. On the other hands, for the goods which have a fewer substitutes and can be characterized as the necessities to perform a specific course or activity, an inelastic effect would be enjoyed. For example, the required textbooks for each class, the calculator for the specific curriculum, the laptop for the Internet and studying, etc, all of the above is bounded to buy no matter how intensively the price has been raised up. Most of the inelastic stuffs for me are the goods which do not have so much substitutes and there is going to have more opportunity costs without them.
ReplyDeleteFor myself, the most elastic items that i consume are money on games and clothes, just because I don't really need to spend money in those areas when I have other things of more importance. Inelastic for me would be gas, if I want to go to school I'm going to need a vehicle to get there because I live too far, in my opinion, to be willing to try other methods of transportation.
ReplyDeleteThe elastic goods I buy are shoes & fast food. I really dnt need them at the time that I buy them but it's just a temporary relief when I buy them at the time lol. The inelastic good would be my car insurance , got to have coverage =)
ReplyDeleteMy elastic good would definitely be fast food (I found just how ridiculous the amount I'm spending on food alone!). If I made the effort, I could spend a little less by packing my own lunch and eating at home for dinner. Life on-the-go... Another could be my car payment because I can sell it and buy a different car (used/cheaper) to eliminate/reduce monthly payments.
ReplyDeleteMy inelastic goods would include gas $ I use to contribute to carpooling to school, and probably my cell phone payment because I need to have access to the internet at the palm of my hands (I don't always have access to a laptop or desktop, so the smartphones are handy).
For me probably food...as the elastic I mean. I'm not a very picky eater nor am I a big food person so whatever is cheap and doesn't make me projectile vomit is fine.
ReplyDeleteVideo games and books are inelastic for me. No matter the price change, unfortunately I am willing to spend that amount to purchase these entertaining objects.
An elastic good for me would be buying a ticket to see a lakers game.. plus i would spend a lot in gas, drinks and food.. I'd rather watch it in TV.. an inelastic good for most of us is gas.. even though the price is really high.. we have to buy it!
ReplyDeleteA elastic good for me would be purchasing new clothes , when I have enough clothes for the season. It's nit necessary for me to buy clothes all the seasons. A inelastic would be the purchase of gas and food , Wich is a daily use in my life.
ReplyDelete003717102
Manuel Marroquin.
The most elastic good for me, like what many people have posted on here, is eating out (fastfood, restaurant, etc...). Instead of eating out, I save myself money by making all my meals at home and bringing my lunch with me every day.
ReplyDeleteThe most inelastic goods for me are gas and food/water (since I need gas to get to school and back, and food/water for basic subsistence).
-Matthew Miller
Shopping for clothes would probably be my elastic good. The last thing I need is new clothes but I'm such a sucker for sales. If it's a good price I can't resist but once it's out of my price range, clothes don't look so cute after all!
ReplyDeleteChapstick and gas are both inelastic for me. I always need to have a chapstick with me, and if I lose it, I book it to a store and buy myself a new one.
I work in moreno valley, live in riverside, and go to school in san bernardino, so a girl has got to get around somehow, and gas is a necessity even if gas prices go up to $5! :'(
-Jenna Halili
My most elastic good would be eating out. I eat out even when I know I can cook for myself or find food at home. However, if my income went down, restaurants would be the first thing to go. An inelastic good for me is my cell phone, I depend on my phone for everything and even with a change in my income, I would find a way to pay for my phone service.
ReplyDeleteMy elastic good would be going out to shop for clothes. I know Im in a tight budget, especially being a college student but I can't help if I see the most beautiful dress at forever 21. Thats why I always try to shop when theres a huge sale because then I would be getting more clothes for cheap. My inelastic good would be my phone. Since I don't live with my mom I use it everyday to call her. I basically use it 24/7 and its a necessity to me. If the bill went higher I would find a way to pay for it.
ReplyDeleteMy elastic good would have to be movie tickets. My friends and I go to the movies all the time, no matter how much money I have if I get a text telling me they are going to the movies i'm going with them. My inelastic good would have to be gas just because I drive to cal state 5 days a week and i'm not going to quit school just because of gas prices.
ReplyDelete-Matthew Smith
The most elastic good is buying energy drinks because im addicted to them and i dont need them i just want them and my most inelastic good is gas because i need it to travel to school.
ReplyDelete-german coreas
An elastic good that I constantly use at CSUSB are the scantrons. Every quarter I'm expected to arrive, prepared with one of the various scantrons:blue, green, or red. Being a student, I've learned that I'm able to receive FREE SCANTRONS from the CENTERS IN THE STUDENT UNION, or obtain the majority of the scantrons in the FREE FINALS GIVEAWAY PACK. I'm able to save money, instead of having to pay out of my pockets at the Coyote Bookstore, the vending machines in the Pfau Library, or the Coyote Market.
ReplyDeleteAn inelastic good that I consume daily is water. People around the world, including myself would pay the price of water as they are paying for the price of gas, although our bodies require water to live. Many of the different products we as consumers purchase today lists water as a main ingredient, and use water for multiple reason between house, school, and work. Water is very valuable economically and agriculturally, and many of use large quantities of water, however we have the authority to use less water in many areas of our lives.
For the elastic goods must be clothes and shoes, I usually consider the price and wait it until Chirismas or thanksgiving. It have a lot of discount on those stuff.
ReplyDeleteFor the inelastic goods for me must be the car. The car is transpot for me, when you have one it is enough for me, and I won't buy another. Even I don't like the price.
my elastic good would have to be fast food. i can live without it since i can make my own food.
ReplyDeletemy inelastic good is gasoline. Since i have to go to school and work i need it for everything.
in my opinion, i have to use elastic goods everyday. for example, my fvororite elastic good is food. i can eat outside or cook by my self.inelstic goods is my car and gasoline, i need it but i don't add gasoline everyday.
ReplyDeleteAn elastic good for me would have to be buying new cloths as well when i already have a closet full of cloths. An inelastic good for me would have to be gas because i need it to get to and from school and get to work everyday.
ReplyDeleteAs I'm an international student, my monthly budget depends on the amount of money that my parents send. First, the most elastic goods are groceries. If I have lots of money in my bank account, I'll buy more expensive foods than usual. However, when I'm in a short of budget, I'll buy more frozen foods or instant ramen.(Instant ramens are very eaxy to cook, and very cheap first of all!)
ReplyDeleteSecond, the most inelastic goods are cigarettes. I'm trying to quit smoking, but still a smoker anyway. So, no matter how much money remains in my pocket, I would buy cigarettes with no hesitation. However, if there is a slight change of my cigarette consumption pattern in the long-run, it would be the matter of the cigarette choice. I would buy a 'bugler' instead of a pack of marlboro, which is twice cheaper.
The most elastic thing in my budget right now is most definitely off campus food. It's because I live in the freshman dorms so i'm required to have the meal plan and everything so the food on campus is perceived to me as being cheap because its all prepaid. kinda sucks when i'm sometimes forced to say "I'll eat when I get back to school because its free" because of my lack of real money after spending it on gas, which would be my most inelastic good. I go to my church at least twice a week for, well, church, and for band stuff so doing that stuff is a must for me so gas is my most inelastic good. Plus i like to shop so i need to get there somehow.
ReplyDeleteAn elastic good for me would definitly be fast food. I eat in a hurry to much or am just to tired to cook so I go get fast food. An inelastic good for me would have to be gas because without gas I couldn't get home to see my family or friends and they are the most important thing in my life.
ReplyDeleteInelastic goods for me are tuition, meal plan and books. There is no way I can get out of paying those without majorly affecting my daily life. Elastic goods would be outside food on the weekends when I can just eat off my meal plan.
ReplyDeleteMy elastic good would be watches. I do not need as many as I have and I don't need those others that I am probably going to buy. My inelastic good would be books for school. some people don't feel like they need to buy all the books, I feel like i do. I always buy all the books. (this was the first time that the blog allowed me to post this)
ReplyDeleteMy most elastic good would be clothes and things I do when I go out such as going to the movies and fast food. Its hard not to eat fast food when Im not at home. My most inelastic would be groceries because this helps me save money and eat better.
ReplyDeleteElastic for me would be accessories for my truck i buy them to make my truck look better but i really don't need them.
ReplyDeleteInelastic would be water i drink it everyday and its a necessity.
An elastic good for me would be Hello kitty products. I own a few, well a little more than a few that i have bought over the past years. If the price for a Hello Kitty product that i want is too high i would talk to my wallet before i buy it. It woild be $30 and up for a Hello kitty wallet depending on the materials and designs.
ReplyDeleteAn inelastic good would be gasoline, which i get from costco because its cheaper, but its a must get no matter how high the price gets because i need to get to school and work. Another elastic good is buying banannas no matter what the price is because it is one fruit that I need in my daily breakfast because it keeps my full for a few hours and is cheaper than buying eggs and cereals all the time on top of cereals i have to buy milk too, so bannanas will do the trick for me.
Abdullah: here's to orange juice! We drink a lot of it in my home.
ReplyDeleteJohn K: glad your post showed up!
The Harris family does not have cable anymore (too expensive!), so we download stuff on Hulu if we want to watch tv and our inelastic item is....gasoline, like so many of you have explained.
the most elastic item that I can purchase would have to be electronics. I buy something new every week because i work at Best Buy. If I really found myself short on cash I would immediately stop.
ReplyDeleteThe most Price inelastic item on my shopping cart would have to be gasoline as well. I commute quite a bit and without it I would probably go crazy. I probably wouldn't consider the train or bus either.
Gas by far will is the most inelastic item in my budget. I can truly say that if gas prices were to hit $6/gallon I would still fill the same amount I normally do every week. It's one of those items that you need as an everyday necessity. Yeah I can ride a bike to school or maybe carpool with a classmate. But my schedule varies drastically there for eliminating those options in my case scenario. An item in my budget that is price elastic would have to fast food. After classes are over instead of driving out to get fast food I can go home and make some home cooked meals. It's something that I can afford not to get due to the fact that I make it at home. Saving myself those $8 or $9.
ReplyDeleteAt the moment my most price elastic good would gasoline as well. I drive 48 miles a day to work from Rialto to Brea and drive back to CSUSB, commuting it part of my daily life. If gas were to hit a higher price i would still consume, even if it meant trading in my 4 cylinder Honda Civic for a hybrid.
ReplyDeleteThe most price elastic good would be my consumption of alcohol. Obviously not a necessity in any way shape or form
Gas is my price inelastic good while I would say that would be clothes, I'm not too picky and I try not to spend too much on items I might only wear once.
ReplyDeleteFor me an good for me would be eating out with friends. I love cooking, yet by the end of the day it is easier to just order something r go to a restaurant. Now an inelastic good for me would my cellphone because my family lives far away and I need to be able to stay in contact with them.
ReplyDelete