Doritos: Inelastic Demand -- March 27, 2022

With war (such as the Ukraine-Russian war), Americans learn geography (for the first time).

With surging inflation, Americans finally start to understand the concepts of elastic demand and inelastic demand.

Doritos? It turns out that "Americans and Doritos" (singular) is an "inelastic demand" issue. Link here.

Gasoline? "More" inelastic" than originally thought. See latest figures from GasBuddy.

So, best examples of elastic demand:

• Christmas trees in July
• newspaper subscriptions
  
• one-ply toilet paper
• used AMC Gremlins
• Brussels sprouts 
• two-day-old "best-buy-date" fish
• light beer

Later: I don't know if this from a reader was in response to this post on inelastic demand or not:

Tiny Tim’s “Tiptoe thru the tulips” was a #1 song in 1968. The song was also a hit for several artists 50 years prior. Shoot me. 

But, I told the reader that I would use this as an example of "inelastic demand." At least in 1968. No matter how high Virgin Records or Tower Records priced that "45," it was going to sell. I doubt the same held true of any of his albums.

Wow, it goes against my better judgment to even post this. If nothing else, the alliteration works:

Tiptoe Through The Tulips, Tiny Tim