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Glite Dictionary
🦾 Without stretching 💥 Losing energy 💸 Not affected by price
inelastically

inelastically

8.8
In a way that shows little change when price or income change
  • adverb
  • /ˌɪnɪˈlæstɪkli/
  • Specialized
translation icon : inelásticamente
  • When the price of medicine increased, demand changed inelastically because people still needed it.

Examples

  • The market responded inelastically to the new tax, with only a slight drop in sales.

  • Essential goods are often purchased inelastically, regardless of price fluctuations.

  • Demand for basic necessities often behaves inelastically.

  • When prices rise, the quantity demanded can respond inelastically.

  • People buy food inelastically, so even when prices rise, they continue to purchase the same amount.

  • The demand for fuel remains inelastically steady despite price hikes, as consumers rely on it for transportation.

  • Basic healthcare services are often consumed inelastically, with demand remaining constant regardless of price changes.

Synonyms

inertly
vsinelastically
1 6.7

Without movement or energy, not reacting to anything

applies to little response to price or income changes in economics

Antonyms

responsively
  • Specialized
4.5

In a way that quickly adapts to different screen sizes

How Responsive

elastically
  • Specialized
7.0
inelastically
  • Specialized
8.8

Surface Forms

inelastically positive

Morphology

inelastically = inelastic (semi-transparent) = in + elastic + ly

Morphologically regular, but the economic sense ('not responsive to price or income changes') is a metaphorical extension that may not be directly inferable by average learners.

Etymology

Inelastically is formed from in- 'not' and elastic 'able to stretch or change easily', like an elastic band. So when people or markets react inelastically, they change very little when the price or income changes.