inelastic supply



A market situation in which any increase or decrease in the price of a good or service does not result in a corresponding increase or decrease in its supply.

Use inelastic supply in a sentence

  • Housing seems to have an inelastic supply, as people are still buying expensive homes, and even when they aren't, homes are still being built.

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  • Due to the inelastic supply of stem bolts, the company was unable to procure the required number by offering a greater price per unit.

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  • You need to understand if you are offering an inelastic supply and figure out a way to correctly market it.

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