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ZERO GROWTH: A growth rate (usually in terms of population) that is equal to zero. In other words, this is no change from one year to the next. This goal has been proposed by those who content that population growth is placing excessive pressure on the planet's availability of limited resources and its ability to assimilate pollution. In general terms, zero growth can apply to any measurement, including production, prices, etc.
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                           INELASTIC SUPPLY: The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity supplied. Large changes in price cause relatively small changes in quantity supplied or the percentage change in quantity supplied is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of supply. Inelastic supply is one of two general elasticity relations for supply. The other is elastic supply. An inelastic supply relation is NOT a very responsive, or stretchable, relation. The inelastic supply relation is most often directed toward supply in terms of the price elasticity of supply. In this context, supply is said to be inelastic if the percentage change in quantity is smaller than the percentage change in price. This means that sellers are not responsive to price changes.An inelastic supply relation can fall into one of two categories--perfectly inelastic and relatively inelastic. - Perfectly Inelastic: Perfectly inelastic means that quantity supplied is unaffected by any change in price. In other words, the quantity is essentially fixed. It does not matter how much price changes, quantity does not budge. Perfectly inelastic supply occurs when producers have no choice of the resources used in the production of a good.
- Relatively Inelastic: Relatively inelastic means that relatively large changes in price cause relatively small changes in quantity. In other words, quantity is not very responsive to price, but it does change. More specifically, the percentage change in quantity supplied is less than the percentage change in price. Relatively inelastic supply occurs when producers are able to switch resources among a small number of imperfect substitutes-in-production.
Recommended Citation:INELASTIC SUPPLY, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 13, 2025].
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PINK FADFLY
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Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for malfunctioning pocket calculators.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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TI
Taxable Income
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