Real life example are everywhere in economics

ELASTIC DEMAND –  

Elastic demand refers to a situation where small proportionate change in                                            price of goods and services affect larger proportionate change in quantity                                              demand of goods and  services.

like - petrol and gold etc.

Example –

One year before in 2017 my father purchased a bike for me. I was very happy and went college by my bike everyday that time price of petrol was 65 rupee per litter but after 3 months later price of petrol increased by 70 rupee. After increased price of petrol I went my college only 6-7 days in month by bike another day I used bus because the fare was very less in comparision to the cost of petrol which my bike consumed  for going my college. This because of the increased of price of petrol I decreased more use of bike in my everyday life.