The total demand for many business goods and services is not much affected by price changes. Thus, this demand is ________.
A) derived
B) fluctuating
C) accelerated
D) multiple
E) inelastic

Question

Quizplus · Accepted Answer

When the total demand for goods and services is not much affected by price changes, it is considered to be inelastic. This means that the demand is not sensitive to changes in price, and therefore, the demand curve is relatively steep.

The Total Demand for Many Business Goods and Services Is