An elastic demand curve means that a change in price has a large effect on buying, while an inelastic demand curve means that a price change has less effect on buying. If the demand for an item ...

tend to be relatively elastic. The demand curve for a perfectly inelastic good is depicted as a vertical line in graphical presentations because the quantity demanded is the same at any price.

Goods and services are elastic when demand changes for them in the economy. They become inelastic when demand remains relatively constant, even when the economy shows signs of change. The ...