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Are movie tickets an elastic or inelastic demand?
The demand for movie tickets is elastic as if the price of movie tickets go up people will try to deny seeing movie as it is not necessary for survival and is one the luxury . It may not be affected if the person is rich and if he is rich he can easily buy the tickets and buying the tickets will require only small portion of his income .
What is economy semi flexible?
For some airlines, tickets are classified by their flexibility. Semi-flexible tickets are equivalent to airlines' semi-refundable. An economy ticket is non-refundable. Flexible tickets are fully refundable.
Why is burberry so expensive?
They are a high quality designer product so you pay for that.
What are high-wage products?
High-wage products can also be called normal goods. This means that if a person's income increases thy will buy more normal goods and less inferior goods. Normal goods include, but are not limited to: nice dinners out, sports cars, Broadway tickets, fancy hotels rooms, etc.
Why are theme park tickets so expensive?
Because the cost of keeping them running is expensive. The building materials, food, games, stands, licences, and safety precautions all cost money.
