Elastic: steak, public transportation, pencils.
Explain: It's because demand can change based on prices with the expensive products, and there are a lot of products to choose from rather than only one, like pens.
Inelastic: beef, gasoline, housing.
Explain: these are all the things that are necessities and people need them to survive.
If the PED is 1.5 (elastic), the seller should lower the price. This is because demand is sensitive to price, and lowering the price would increase sales enough to raise total revenue.
If the PED is 0.8 (inelastic), the seller should raise the price. Demand doesn't decrease much, so higher prices would increase revenue.