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-Consider the demand for gasoline. When the price of gasoline increases by a relatively large amount, the quantity of gasoline purchased falls by a relatively small amount.
-Consider the market for cigarettes. When a 200% tax is imposed on the consumers of cigarettes, quantity demanded falls by 60%.
-Consider the demand for children. People who have higher incomes have fewer children on average. People with lower incomes have more children on average.
-Consider the market for soap. How would you determine if soap and shampoo are competitors?
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What type of warfare dominates the world today? (total war? Limited war? Guerilla war? Etc..).
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