Demand is said to be _____ when the demand for a product stays relatively the same and buyers are not sensitive to changes in its price.
A)gaining market share
B)price elastic
C)lost
D)price sensitive
E)price inelastic

Question

Quizplus · Accepted Answer

Demand is considered price inelastic when the quantity demanded of a product does not change significantly with a change in its price. This means consumers continue to buy the product even if the price increases, indicating they are not sensitive to price changes for that product.

Demand Is Said to Be _____ When the Demand for a Product