perfectly inelastic

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An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic situation regardless of the amount of a product on the market, the price of the product remains the same. Perfectly inelastic is the opposite of perfectly elastic.

Use 'perfectly inelastic' in a Sentence

I was glad the product was perfectly inelastic because that meant the price would not effect the supply and I liked that.
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There are not many items that are perfectly inelastic, the only things I have seen that the prices have remained basically the same is the junk toys that usually cost a dollar at Walmart, everything else seems to be effected by inflation.
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You need to figure out the best way to proceed when you are dealing with something that is not perfectly inelastic.
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