A statistic attempting to quantify the change in supply or demand for a good, given a certain price change. The more inelastic demand (characteristic of necessities), the less effect a change in price has on demand for the good. The more inelastic supply, the less supply changes when the price does.
INELASTICITY
Meaning of INELASTICITY in English
A guide to futures and options market technology English dictionary. Английский словарь-руководство по фьючерсам и опционам рыночных технологий . 2012