A good is considered when producers can quickly supply more or less of it based on changing prices. A good is considered when producers cannot quickly change how much of it is supplied when prices change.

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Answer:

The first one is Elastic.

The second one is Inelastic.

Explanation:

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A good is considered when producers can quickly supply more or less of it based on changing prices. Elastic

A good is considered when producers cannot quickly change how much of it is supplied when prices change. Inelastic

What is known as an Elastic?

Elasticsearch is a distributed search and statistics engine built into Apache Lucene. Since its release in 2010, Elasticsearch has become the fastest and most popular search engine for logistics, full-text search, security intelligence, business analytics, and business intelligence cases.

What is an inelastic example?

Gasoline is an example of unparalleled demand, because consumer spending remains the same, even when prices go up. Similarly, consumers do not buy much even if the price goes down. However, gas does not need to be completely inelastic, where the need does not change regardless of price.

Learn more about Unparalleled demand at https://brainly.com/question/9891319

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