Difference between revisions of "Inelastic Demand"
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| − | Inelastic Demand is low [[elasticity]]. The percent change in quantity over the percent change in price is a number less than one. Inelastic goods can have their prices raised without significantly affecting the demand. | + | '''Inelastic Demand''' is low [[elasticity]]. The percent change in quantity over the percent change in price is a number less than one. Inelastic goods can have their prices raised without significantly affecting the demand. |
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 04:17, May 3, 2007
Inelastic Demand is low elasticity. The percent change in quantity over the percent change in price is a number less than one. Inelastic goods can have their prices raised without significantly affecting the demand.