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inelastic
(redirected from inelasticity)

   Also found in: Dictionary/thesaurus, Medical 0.02 sec.
inelastic
Of or relating to the demand for a good or service when quantity purchased varies little in response to price changes in the good or service. For example, the demand for medicines and medical services is generally inelastic because the quantity purchased by consumers is unresponsive to price changes. Producers of products and services facing inelastic demand curves have an easier time passing on price increases. Compare elastic.


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That situation coupled with inelasticity in demand for tires led to the crunch.
The energy price rise related to the energy supply curve's inelasticity poses a serious problem for economic policymakers, particularly the Federal Reserve Board.
The laughable consists of a certain mechanical inelasticity," observed French philosopher Henri Bergson, "just where one would expect to find the wide-awake adaptability of a human being.
 
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