Inelastic supply

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


Read Also:

  • Inelegance

    [in-el-i-guh ns] /ɪnˈɛl ɪ gəns/ noun 1. the quality or state of being ; lack of elegance. 2. something that is or ungraceful.

  • Inelegancy

    [in-el-i-guh n-see] /ɪnˈɛl ɪ gən si/ noun, plural inelegancies. 1. .

  • Inelegant

    [in-el-i-guh nt] /ɪnˈɛl ɪ gənt/ adjective 1. not elegant; lacking in refinement, gracefulness, or good taste. /ɪnˈɛlɪɡənt/ adjective 1. lacking in elegance or refinement; unpolished or graceless 2. coarse or crude adj. c.1500, from French inélégant (15c.), from Latin inelegantem (nominative inelegans) “not choice, without taste, without judgment,” from in- “not” (see in- (1)) + […]

  • Ineligibility

    [in-el-i-juh-buh l] /ɪnˈɛl ɪ dʒə bəl/ adjective 1. not ; not permitted or suitable: Employees are ineligible in this contest. 2. legally disqualified to hold an office. 3. legally disqualified to function as a juror, voter, witness, etc., or to become the recipient of a privilege. noun 4. a person who is ineligible, as a […]

Disclaimer: Inelastic supply definition / meaning should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. All content on this website is for informational purposes only.