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Meaning of “inelastic” in the English Dictionary

"inelastic" in Business English

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inelasticadjective

uk   us   /ˌɪnɪˈlæstɪk/
ECONOMICS relating to a situation in which the amount of a product sold or supplied changes very little in relation to the product's price: Cereal prices are considered "inelastic," meaning that a 10-percent price increase tends to boost supplies by only one or two percentage points. Supply of oil is notoriously inelastic: it can only respond slowly to price changes.
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(Definition of inelastic from the Cambridge Business English Dictionary © Cambridge University Press)
Translations of “inelastic”
in Chinese (Simplified) 无变化的…
in Chinese (Traditional) 無變化的,不容許變化的,沒有彈性的…
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