inelastic demand

1. Demand whose percentage change is less than a percentage change in price. For example, if the price of a commodity rises twenty-five percent and demand decreases by only two percent, demand is said to be inelastic. (See elasticity.)

Example Sentences

"It also presents exactly the kind of monopoly or oligopoly power that is entrenched in a market 'with highly inelastic demand' and that 'imposes substantial costs on the public,' which Chair Khan has previously argued enforcers should seek to challenge. We urge the FTC to exercise the full scope of its authorities—under the Sherman, Clayton, and FTC Acts—to identify, challenge, and uproot anti-competitive arrangements that suppress competition among egg producers and enable dominant firms like Cal-Maine to extort consumers for the eggs they need every day."

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The vast majority of people who hire lawn services will continue to do so; i.e., inelastic demand.

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Mercuriadis’s pitch to investors is that the royalty streams of proven hits are a more stable investment than gold or oil, given the inelastic demand for music — a premise that has largely held up during the pandemic.

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The reality is you have an inelastic demand to buy up these units.

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“More limited supply meeting inelastic demand should give a producer pricing leverage should they choose to exert it.”

Read more on The Wall Street Journal