inelastic demand Meaning in the Cambridge English Dictionary
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Meaning of “inelastic demand” in the English Dictionary

"inelastic demand" in Business English

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inelastic demandnoun [U]

uk   us   ECONOMICS
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 ​inelasticdemand," he said.
(Definition of inelastic demand from the Cambridge Business English Dictionary © Cambridge University Press)
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