Which of the following is the best example of a good that has inelastic demand?

a. boat

b. salt

c. movie ticket

d. diamond

The correct answer for this question is this one: "b. salt." The best example of a good that has inelastic demand is the salt. Inelastic demand refers to demand whose percentage change is less than a percentage change in price. Take for example, the price of a commodity rises twenty-five percent and demand decreases by only two percent, demand is said to be inelastic.

The answer would be B).