The total demand for many business goods and services is ________ -that is,not much affected by price changes.
A) derived
B) fluctuating
C) accelerated
D) multiple
E) inelastic

Question

Quizplus · Accepted Answer

Inelastic demand refers to a situation where a change in price has little impact on the demand for a good or service. Therefore, when the total demand for many business goods and services is inelastic, it means that price changes have little effect on the demand for these products or services.

The Total Demand for Many Business Goods and Services Is