staple product

staple product

any product the consumption of which does not vary much with changes in INCOME, for example, basic foodstuffs like potatoes and bread. Staple products have an INCOME ELASTICITY OF DEMAND of less than 1. This means that as incomes rise, proportionally less income is spent on such products. Contrast LUXURY PRODUCTS. See also ENGEL's LAW, NORMAL PRODUCT, INFERIOR PRODUCT, GIFFEN GOOD.
References in periodicals archive ?
Hand sanitizers have become a staple product on retail shelves because of their ability to kill bacteria and prevent the spread of disease and contamination.
Similarly, Sipp Sparkling Organics in December reinvented its staple product, Sipp Sparkling, to offer fewer calories and sugar; it also introduced Sipp Infusions, crafted with clean, USDA-certified organic ingredients.
ROOT CROPS are the other staple product of a winter farm.
Look Beauty's Masque Bar is now listed in over 50 countries, and masks, in their many incarnations, are now firmly established as a staple product in beauty regimens and constitute a category that continues to post meaningful growth year after year.
The Roseland-based company got every item in their staple product line, Polaner All Fruit, verified by food labeling not-for-profit Non-GMO Project in August 2014 to take advantage of growing concerns about genetically modified food.
Its staple product is Rooh Afza, a cult favourite summer drink is consumed by millions across Pakistan and in various parts of the globe.
As masks are now featured in almost 50 countries, the company can rightfullly say the criticism that they are a "fad" has officially been debunked --masks are now firmly established as a staple product in peoples' beauty regimes, and the category continues to show meaningful sales growth.
The hikes come when a 2kg packet of maize flour is at Sh120 up from Sh90 following the end of a government subsidy on the staple product last month.
The previous GT sold 66,000 units but was desper- ately in need of a major overhaul as it is the staple product in the company's range.
Boys' black stockings bearing a battleship trademark and the sturdy brand name "Iron Clad" became the mill's staple product. A steady demand existed, for fashion then dictated that boys wear knickerbocker pants, often called "knickers," and knee-length stockings.
Coffee is expected to continue to grow as a staple product not just to start the day but to provide a boost whenever needed.
(40) Specifically, basmati rice is a staple product comprising the main source of carbohydrates for many Indians and Pakistanis.