when is the demand of a commondity said to be inelastic ? OR Give the meaning of 'inelastic demand'.

when is the demand of a commondity said to be inelastic ? OR Give the

1.	when is the demand of a commondity said to be inelastic ? OR Give the meaning of 'inelastic demand'.
Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :When <a href="https://interviewquestions.tuteehub.com/tag/percentage-13406" style="font-weight:bold;" target="_blank" title="Click to know more about PERCENTAGE">PERCENTAGE</a> change in the quantity demanded is less than percentage change in price, then demand for such a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> is said to be less <a href="https://interviewquestions.tuteehub.com/tag/elastic-967540" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTIC">ELASTIC</a>.</body></html>