I have experienced the differences between elasticity and inelasticity in products that I see and purchase regularly. I know that some marketable products, such as food and household appliances, are priced such that they, in some sense, gauge current consumer demand. For example, a new book is often initially priced at a significant price, perhaps around thirty dollars depending on the projected popularity of the book; However, the price of the book will often drop or even increase, although this is a rare circumstance, as time passes and preliminary customers, after purchasing the book, offer their reviews, whether disparaged or acclaimed, and the price of the book. The book will then often correspond to either this increase or decrease in popularity and approval. Although I know that many people around me, including members of my family, may feel that they cannot live without, for example, chocolate or the latest music or video games, regardless of fluctuating prices of these articles, I don't normally feel This way. Those close to me say that I inherited my father's meticulous skepticism and rationality and, as a result, I question every purchase, every decision I make before it is made. I want to be sure I make the right decision. The price of the item I am considering at any given time is only a partial factor in my final conclusion, as I also take into account the importance of the purchase, what the expected results will be from that purchase, if I really need the item, and other things like that. While I'm certainly not an economist when it comes to the training needed to be certified, I try to perceive the world with, at a minimum... middle of paper...... gone are the days, I 'll buy. Although I realize that books are not absolutely essential to a person's survival, they are things that are central to my life; nevertheless, I am not so insulated from material considerations as to be incapable of understanding the importance of money in whether I can call a book mine. Having a book advertised so exorbitantly diminishes my willingness to purchase it, which is why I would classify most books, excluding textbooks which are often necessary, as elastic purchases for me. There are alternatives to buying books in that I can read information on accessible websites, rent books from the library, or devote my time to some sort of technological entertainment. So, as unfortunate as it may be, books are elastic purchases because there is a certain range. price that I and the books I buy must respect to receive my request.