Definition of Inelastic supply:
A market situation in which an increase or decrease in the price of a good or service does not lead to a similar increase or decrease in its supply.
How to use Inelastic supply in a sentence?
- The supply of houses seems unstable, because people are always buying expensive houses and, even if they don't, houses are being built.
- You need to understand whether you are offering a neutral proposal and find ways to market it properly.
- Due to non-supply of stem screw, the company is unable to get the required quantity at higher unit cost.
Meaning of Inelastic supply & Inelastic supply Definition