inelasticity Antonyms
No Synonyms and anytonyms found
Meaning of inelasticity
Wordnet
inelasticity (n)
the lack of elasticity
Webster
inelasticity (n.)
Want of elasticity.
inelasticity Sentence Examples
- The inelasticity of the demand curve implies that consumers are relatively unresponsive to price changes.
- The inelasticity of the supply curve means that producers are unable to significantly increase output in response to higher prices.
- The inelasticity of the curve highlights the lack of substitutes for the product or service.
- The high inelasticity of gasoline demand makes it challenging for governments to implement fuel taxes.
- The inelasticity of labor supply in some sectors can lead to labor shortages during periods of economic expansion.
- The elasticity of demand for healthcare services is often inelastic, as consumers value their health regardless of cost.
- The inelasticity of demand for life-saving drugs can result in high prices for these medications.
- The supply of essential commodities can be inelastic in the short run, leading to temporary shortages during emergencies.
- The inelasticity of the demand for luxury goods indicates that consumers are willing to pay a premium even during economic downturns.
- The inelasticity of the curve can be attributed to factors such as brand loyalty, lack of viable alternatives, or psychological addiction.
FAQs About the word inelasticity
the lack of elasticityWant of elasticity.
No synonyms found.
No antonyms found.
The inelasticity of the demand curve implies that consumers are relatively unresponsive to price changes.
The inelasticity of the supply curve means that producers are unable to significantly increase output in response to higher prices.
The inelasticity of the curve highlights the lack of substitutes for the product or service.
The high inelasticity of gasoline demand makes it challenging for governments to implement fuel taxes.
