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

Name: The total demand for many business goods and services is inelasticthat is, not much is affected by price changes.
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Inelastic demand means that the quantity demanded does not change significantly in response to price changes. This is often the case for business goods and services as they are often essential for business operations and cannot easily be substituted.

The Total Demand for Many Business Goods and Services Is