When demand hardly changes with a small change in the price of a product,then the demand for the product is best described as ________.
A) elastic
B) flexible
C) inelastic
D) variable
E) cyclical

Question

Quizplus · Accepted Answer

When the demand for a product hardly changes with a small change in price, it means that consumers are not very responsive to price changes, and the demand is said to be inelastic.

When Demand Hardly Changes with a Small Change in the Price