Outrageously Funny Word Dictionary :: Unelasticity

👉 In economics, "unelasticity" refers to a property where a quantity of a good or service is not responsive to changes in its price. This means that as the price of an item increases, the demand for that item decreases; conversely, when the price falls, the demand for the same item increases. For example, if you were selling tickets to a play and noticed that people were less willing to pay more for tickets than for those with lower prices, this is because the ticket price

unelasticity