RELATIVELY INELASTIC: An elasticity alternative in which relatively large changes in price cause relatively small changes in quantity. In other words, quantity is not very responsive to price. Relatively inelastic should be compared with other elasticity alternatives--relatively elastic, perfectly inelastic, perfectly elastic, and unit elastic. See also | elasticity | relatively elastic | perfectly inelastic | perfectly elastic | unit elastic | price elasticity of demand | price elasticity of supply |
