Jun 19, 2025 · Inelastic means that a 1% change in the price of a good or service has less than a 1% change in the quantity demanded or supplied.

Cereal prices are considered "inelastic," meaning that a 10-percent price increase tends to boost supplies by only one or two percentage points. Supply of oil is notoriously inelastic: it can only …

Inelastic demand is when the change in the price of a product or service does not cause a proportional or significant change in its demand in the economy. It refers to a type of elasticity …

Jul 5, 2025 · Tax Incidence: When demand is inelastic, the burden of a tax falls primarily on consumers. The rationale is that consumers will continue to purchase the good or service even …

Jul 23, 2025 · Inelastic Demand is when changes in price result in relatively smaller changes in quantity demanded. In other words, consumers are not very responsive to price changes.

The meaning of INELASTIC is not elastic.

Apr 29, 2024 · In economics, inelastic refers to a condition where the demand or supply of a good or service is relatively unresponsive to changes in price. This means that even substantial …

Inelasticity refers to the concept in economics where the demand or supply of a good or service is not significantly affected by changes in its price. It indicates a low responsiveness or sensitivity …

Inelastic demand occurs when a buyer’s demand for a product does not change significantly in response to a change in price. When the price increases by 20% and demand decreases by …

INELASTIC definition: not elastic; lacking flexibility or resilience; unyielding. See examples of inelastic used in a sentence.