Inelastic Demand: Definition & Examples


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question 1 of 3

Which value below represents an inelastic demand?

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1. Which demand curve is inelastic at all points?

2. Why is the price point method more accurate for estimating elasticity of demand than the arc method?

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About This Quiz & Worksheet

This quiz and corresponding worksheet quickly gauge your understanding of inelastic demand and the characteristics it possesses. In order to pass the quiz, you will need to know what a price-point is and how it's used.

Quiz & Worksheet Goals

Use this worksheet and quiz to review:

  • Price-point
  • Definition of inelastic demand
  • Demand curves
  • Values of inelastic demand

Skills Practiced

This quiz and worksheet combo can help you practice the following skills:

  • Information recall - access the knowledge you have gained regarding inelastic demand
  • Problem solving - use acquired knowledge to solve practice problems related to economics
  • Defining key concepts - ensure that you can accurately define main phrases, such as price-point and inelastic demand

Additional Learning

You should also peruse the lesson called Inelastic Demand: Definition & Examples. This lesson has the following topics:

  • Definition of inelastic demand
  • Characteristics of inelastic demand
  • Ways to use price-point
  • Identifying the formula of inelastic demand
  • Properties of the demand curve