Inelastic

usgb/ˌɪnɪˈlæstɪk/
adjective

In economics, inelastic refers to a situation where the quantity demanded or supplied does not change much in response to price changes.

The demand for essential medicines is often inelastic, meaning people will buy them regardless of price increases.
Visual representation of "inelastic" - In economics, inelastic refers to a situation where the quantity demanded or supplied does not change much in response to price changes.

Usage tips

Neutral

inelastic demand, inelastic supply, inelastic goods

Definition 1 of 2
Visual representation of "inelastic"
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Economic Context

In economics, recognize how inelastic demand relates to necessities.

Illustration for Economic Context
Essential medicines often have inelastic demand.
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Material Science

In material science, know that some materials are categorized as inelastic based on their physical properties.

Illustration for Material Science
Steel can be inelastic under certain conditions.
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General Usage

Use inelastic to describe any situation that does not adapt or respond.

Illustration for General Usage
The company faced inelastic sales despite the changing market.
Visual representation of the word "Inelastic"

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