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You are a consumer and in the supermarket for your weekly grocery shopping: List the three...

You are a consumer and in the supermarket for your weekly grocery shopping: List the three items in dairy aisle you believe are price inelastic for you and price elastic for you and discuss why.
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Three items in the dairy aisle are fluid milk, cottage cheese and curd whose demand are considered to be price inelastic in nature for me and i is for the different reasons. The first reason is the lack of substitutes. These products as mentioned are consumed on daily basis and there are lack of or very few expensive alternatives. Besides, these items are necessities in terms of nutrition. Further, these items take smaller amount of the total budget spent on food. Hence, the demand is price inelastic.

The other three items are milk butter, clarified butter and Mozzarella  Cheese whose demand are price elastic in nature. The first reason is the presence of alternatives such as butter with vegetable sources and use of olive oil instead of  Ghee. Further, the specific cheese can also be replaced by directly buying of the pizza. Besides, the day to day life does not depend upon these products and can be replaced by the other products. So, demand of these products are price elastic in nature.

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