Which of the following best describes a situation where the quantity demanded changes significantly in response to a price change?

When we talk about demand elasticity, we're looking at how much the quantity demanded of a product changes when its price changes. A situation where demand is elastic means that a small change in price leads to a big change in how much people want to buy. For example, if the price of a popular soda goes up by just a dollar, many people might decide to buy less or switch to a cheaper drink. This shows that the demand for soda is sensitive to price changes. In contrast, if the price of something essential, like medicine, changes, people might still buy the same amount, indicating inelastic demand.