Answer : Elastic of demand curve means that when the price
changes than the quantity demanded changes at greater speed. It is
known as elasticity of demand curve.
- A goods without Close Substitute has less elastic demand curve
because as close substitute goods has more elastic demand curve. A
good without any alternative has inelastic demand curve.
- A non durable good has less elastic demand as they are
purchased for regular time interval.
- A necessary goods is not having elastic demand.
- A goods with complements have less elastic demand curve
- Luxuries goods are more elastic as they are not
necessary and demand directly affected by the price. Example : Plan
of a vacation , Visiting to the Amusement park
So, from our discussion we come with the result that
luxuries goods has more elastic demand curve.