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单词 inelastic
释义 inelastic

inelastic // adjective

(Economics )

used to describe the situation when a change in one thing, such as the price of a product or service, or a change in people's incomes, results in only a small change in another thing, such as the amount that people want to buy:

Demand for their product is inelastic.

Some products such as petrol/gas are price inelastic-even when prices go up demand doesn't fall.

Business travel is inelastic; if you reduce prices, you reduce total revenue.

OPP ELASTIC

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更新时间:2025/5/9 0:11:49