Respuesta :
When the absolute value of the price elasticity of demand falls in the range 0 to 1, demand is said to be inelastic.
A good or service that has an income elasticity of demand between zero and 1 is considered a normal good and income inelastic. If a good or service has an income elasticity of demand below zero, it is considered an inferior good and has negative income elasticity.
Inelastic is an economic term referring to the static quantity of a good or service when its price changes. Inelastic means that when the price goes up, consumers' buying habits stay about the same, and when the price goes down, consumers' buying habits also remain unchanged.
Price elasticity of demand is a measurement of the change in consumption of a product in relation to a change in its price. A good is elastic if a price change causes a substantial change in demand or supply.
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