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» SOLUTION :When PERCENTAGE change in the quantity demanded is less than percentage change in price, then demand for such a COMMODITY is said to be less ELASTIC.