The total demand for many business goods and services is inelastic that is, not much affected by price changes.

Name: The total demand for many business goods and services is inelastic that is, not much affected by price changes.
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Inelastic demand means that changes in price do not have a significant effect on the demand for the goods or services in question. This is often the case for essential goods or products with few substitutes, and is common for many business goods and services.

The Total Demand for Many Business Goods and Services Is