A characteristic of the daily necessities is that the price elasticity of demand is very small. This conceives an internal tendency for the prices to soar and becomes reality in certain market constructions. That is, the prices of necessities will continuously go high by the propulsion of market power, hence leading to inflation at an overall level which is called market-promoted inflation.
|Original language||Chinese (Simplified)|
|Number of pages||3|
|Publication status||Published - 2005|