inelastic demand
inelastic demand
Glossary micro and macro economics
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Economics
Definition of inelastic demand
inelastic demand : product or resource demand for which the elasticity coefficient for price is less than 1. This means the resulting percentage change in quantity demanded is less than the percentage change in price.
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Glossary micro and macro economics
Micro and macro economics glossary index of terms
Definition and meaning of inelastic demand
Meaning of inelastic demand
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