unelasticity in a sentence
n.
📚 Grade Level: Grade 9, Grade 10, Grade 11, Grade 12
Definition
Unelasticity is the economic condition where the quantity demanded of a good or service is relatively insensitive to changes in its price.
Crossword clues for unelasticity
Crossword clue ideas and answer hints for the word "unelasticity".
- Price changes have little effect on demand.
- Demand remains stable despite price fluctuations.
- Quantity demanded stays constant with price shifts.
- Insensitivity of demand to price variations.
- Demand does not respond to price changes.
Unelasticity sentence examples
- The concept of unelasticity in economics refers to the insensitivity of demand to price changes.
- Unelasticity can lead to significant challenges for businesses trying to maximize their profits.
- In certain markets, goods exhibit unelasticity, meaning consumers will buy them regardless of price increases.
- Understanding the unelasticity of certain products helps economists predict consumer behavior during economic downturns.
- The unelasticity of essential goods often results in stable revenues for companies in volatile markets.