Elasticity - Own Price Elasticity of Demand

addictive nature of product: Clearly, the more addictive a product the more inelastic demand will be. Examples include: caffeine containing beverages (are you drinking one now?) tobacco products, alcohol containing drinks and, of course, many illegal substances.
time frame considered: The longer the time frame in which we are observing demand, the more elastic demand will be. This is simply because time gives consumers the opportunity to find ways to adjust their behavior or to alter consumption or to locate substitutes. Sufficient time gives manufacturers an opportunity to produce substitutes that may not have existed prior to the price increase. For a price drop, time gives consumers the opportunity to learn ways of substituting the lower price item for the one whose price didn't fall.