When is the demand for goods likely to be more elastic in the market?

When a company is making or manufacturing goods and then selling them to customers, it is important for a worker to keep track of the amount of a certain good that sells and the rate at which it sells. Sometimes, a certain product will sell faster than others. If a worker keeps track of this, they will know if this product is in high demand.

If the product is selling slowly, then there is a low demand for the product. When a demand for a product is considered to be elastic, that means that the product is sometimes in high demand and in low demand at other times. The demand for goods is likely to be more elastic if there is a greater number of available substitutes for the goods.

The greater the number of available substitutes for the good-the magnitude of the price elasticity of demand of a good depends on several factors - the availability of substitutes, the proportion of income spent on the good, and the time period. demand tends to be more elastic:the greater the number of substitutes - if the price rises you can easily buy something elsethe greater the proportion of income spent on the good - a rise in the price has a large impact so you try to economise on the goodthe longer the time period - you have more time to adjust your spending patterns and find alternative goods.so, only the greater the number of available substitutes for the good is correct here. other answers would imply a more inelastic demand.