An elasticity alternative in which changes in one variable (usually price) do NOT cause any changes in another variable (usually quantity). Quantity is totally, completely unresponsive to price. Quantity just does not change, regardless of changes in price. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Perfectly inelastic is one of five elasticity alternatives. The other four are perfectly elastic, relatively elastic, relatively inelastic, and unit elastic.

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Hey, look! Is that who I think it is? Yes of course, that's Dan Dreiling the drywall guy. You might recall that Dan repaired a hole in my living room wall back in Fact 7. He's coming out of the Mona Mallard Duct Tape Industries plant with all of the duct tape factory workers. And he seems most distressed. Let's get to the bottom of this. Here's his story. The drywall business sort of dried up, and Dan has taken up employment in the exciting field of duct tape fabrication. The duct tape workers, though, are talking union. Dan's indecisive about this move toward unionization. Perhaps we can help him out. Let's stroll around the often controversial topic of labor unions.
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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a combination CD player, clock radio, and telephone (with answering machine) or a revolving spice rack. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?

-- C. Northcote Parkinson, historian

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