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. |
| + | == See Also == | ||
| + | |||
| + | [[Elastic demand]] | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 15:00, May 17, 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.