Inelastic demand is +characteristic of goods which form a small percentage of an items total cost.

Name: Inelastic demand is +characteristic of goods which form a small percentage of an items total cost.
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Inelastic demand means that the quantity demanded of a good does not change much in response to changes in price. This is typically the case for goods that form a small percentage of an item's total cost, such as salt or sugar.

Inelastic Demand Is +Characteristic of Goods Which Form a Small