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What are " necessity goods"?

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تم إضافة السؤال من قبل Vinod Jetley , Assistant General Manager , State Bank of India
تاريخ النشر: 2014/11/27
Divyesh Patel
من قبل Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Good and services that are considered to be essential to life, such as food, water, shelter, and medical care.

 

Satish Koottala
من قبل Satish Koottala , Accountant , City Diamond Contracting LLC

Food Water Electricity Gas Cloths are examples of Necessity Goods. Demand for this is high and doesnt base on the income of a person. It is necessary and people will sacrifice other expense to get this goods.

Mohd Asif Ansari
من قبل Mohd Asif Ansari , HR Administrator , Al Nasseej Al Arabi Factory Co. Ltd.

Necessity goods are goods that we cannot live without and will not likely cut back on even when times are tough, for example food, power, water and gas. The more necessary a good is, the lower the price elasticity of demand, as people will attempt to buy it no matter the price.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

" Necessity goods":  For certain class of the society this is a real question which they daily trying to answer. I think the answer may exceed more than half of the total population.

padmakumar pathiyil
من قبل padmakumar pathiyil , Marketing Consultant , Management Consultancy

Goods that are considered to be essential to Life. Demand for necessities tends to be inelastic, since people will have to purchase at least a certain minimum amount of these goods no matter how much the price would increase.

Ajit Raj Mainali
من قبل Ajit Raj Mainali , Sales Data Analyst , Al Ain Farms for Livestock Production

Necessity goods are goods that we cannot live without and will not likely cut back on even when times are tough, for example food, power, water etc.

Sara Naeem
من قبل Sara Naeem , Trainee Finance officer , Wah Brass Mill

Necessity goods plays a vital role in our life that we can not live without it..so I agree with all given answers Thanks for the invitation.

georgei assi
من قبل georgei assi , مدير حسابات , المجموعة السورية

Essential goods and services are the goods that satisfy the essential human needs. Such as food, housing, clothing

Ashish Singh
من قبل Ashish Singh , HR Project Manager/ Business Consultant , Human Arc Consulting

To be specific, necessity goods are related to basic necessities of human beings. For example, clothing. 

LABIB KOOLI
من قبل LABIB KOOLI , Director of the Sectoral Center for Training in Hotel Technologies at Southern Hammamet , Tunisian Vocational Training Agency (ATFP)

Thanks Vinod !

We could not live without necessity goods 

Vinod Jetley
من قبل Vinod Jetley , Assistant General Manager , State Bank of India

1.Economics: Good or service (such as food, water, medical attention) whose consumption is essential to human survival, or which is considered indispensable for maintaining a certain minimum standard-of-living.

2.Law: Circumstance that compels a course of action. A legal defense may succeed where a lesser damage or harm was caused out of necessity to prevent a greater damage or harm, and the action taken was reasonable under the circumstances.

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