inelastic


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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.

inelastic

adj. relatively unresponsive to change. See PRICE ELASTICITY OF DEMAND, PRICE ELASTICITY OF SUPPLY, INCOME ELASTICITY OF DEMAND, CROSS-ELASTICITY OF DEMAND.
References in periodicals archive ?
o] is the limiting strength, and p and q are material dependent parameters, which are, in theory, determined by the mechanism of inelastic deformation.
In the energy literature, it is observed that oil demand is income elastic and price inelastic (Dahl, 1994 and Narayan and Smyth, 2007).
For the occurrence of inelastic buckling, the slenderness of the member is [lambda] = 180[micro]/3.
aggregate demand could result in a balance of trade deficit while an inelastic aggregate demand could yield a balance of trade surplus.
By outlawing substances like marijuana, governments have given criminals a virtual monopoly in a market with relatively inelastic demand, which makes the drug trade extremely lucrative.
Known for his work in earth-quake-resistant design of concrete structures, Wight's recent research has concentrated on the strength and inelastic behavior of connections in composite structures (reinforced concrete and steel) and the use of high-performance fiber reinforced concrete composites for earthquake-resistant design of critical members in concrete structures.
Where both short-run and long-run supply are inelastic, a positive demand shock resulting from monetary policy is likely to permanently raise asset prices, in the absence of a following negative demand shock (which itself can be driven by monetary policy).
This experimental investigation focused on the response of a UHPC beam subjected to concurrent inelastic flexural loading and the application of a 15 percent sodium chloride solution.
Other topics include inelastic damage-involved response of colliding buildings during earthquakes, and cohesive release loads in a general finite element model of a propagating crack.
There are stories of athletes having muscles that are too strong and inelastic as well as claims that regular training reduces perineal trauma, but little objective evidence exists.
It has been proved that the models of the plasticity and continuum damage theory can accurately simulate inelastic behaviour during cyclic loading, but its practical application is reduced, because of the great number of parameters usually needed.