INELASTIC DEMAND: Relatively large changes in demand price cause relatively smaller changes in quantity demanded. Inelastic demand means that changes in the quantity demanded are not very responsive to changes in the demand price. An inelastic demand has a coefficient of elasticity less than one (the negative value is ignored). You might want to compare inelastic demand to elastic demand, inelastic supply, and elastic supply. See also | elasticity | elastic | inelastic | relatively inelastic | perfectly inelastic | relatively elastic | unit elastic | perfectly elastic | demand price | quantity demanded | elastic demand | inelastic supply | elastic supply |
