Define price elasticity of demand. Explain the difference between elastic demand and inelastic demand.

Elastic demand means with a change in its price, quantity demanded will change, mostly in negative direction (if price increases, demand falls). For example, in case of DVDs, if the price of DVDs increase its demand will fall. Inelastic demand is when price change has no effect on the quantity demanded.

answer; being clearly political;

stable food supply,social structure, government,religion,culture/art,technology and writing/language;