Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “inelastic demand”

inelastic demand

noun [U]
the situation in which a change in a product's price causes very little change in the amount of the product that is sold: "Gasoline is a commodity with inelastic demand," he said. → Compare elastic demand
(Definition of inelastic demand from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of inelastic demand?
Add Cambridge dictionaries to your browser to your website

Word of the Day

beer mat

a small piece of cardboard that you put under a glass to protect a table surface in a pub or bar

Word of the Day


Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More