name 5 products in which demand is price elastic and why it is so?

Answer 1

Products with close substitutes are usually price elastic. apples, broccoli, pork chops, cornflakes, any particular brand of a product with competition.

Answer 2

I-Pod, Computer , Clothes, school supply, Food(Eating out and buying grocery make a difference).
I personally think some good keys to think about the price elasticity are whether the good is durable and how often do we need the good. Let's me go a bit further, all those goods I just mentioned, they are durable and we use those things daily. When their prices are low, people obviously will spend more on those goods. The reason why I say eating out and buying from grocery store make is difference is that people will choose to eat out when the restaurant offering discounts but people will not spend more on milk, banana, egg or such things as those things aren't really durable and they won't change their minds and drink a gallon of milk or a dozen of egg per day only because the prices are cheaper than before,