How Do You Spell INELASTIC?

Pronunciation: [ɪnɪlˈastɪk] (IPA)

The word "inelastic" is spelled with the prefix "in-" meaning "not", followed by "elastic", which refers to something that is not flexible or unable to stretch or move easily. In IPA phonetic transcription, the word is spelled /ˌɪnəˈlæstɪk/, with emphasis on the second syllable. The "i" at the beginning of the word is pronounced as "ih", and the ending "-ic" is pronounced as "ik". This word is commonly used in economics to describe a situation where changes in price do not significantly affect demand or supply.

INELASTIC Meaning and Definition

1. Inelastic is an adjective that describes a situation or condition wherein the elasticity, or responsiveness, of an entity to changes in a particular variable is relatively low or non-existent. It refers to the lack of flexibility or adaptability in response to changes in a given factor. Generally used in the context of economics, inelasticity implies that the quantity or demand for a product or service remains relatively unchanged when there is a change in price.

   When the demand for a good or service is inelastic, it means that consumers are not highly responsive to changes in price. This is often the case when dealing with essential goods or services that are considered necessities rather than luxury items. For example, medicines or basic food items typically exhibit inelastic demand because consumers tend to continue purchasing them despite fluctuations in price.

   In terms of supply, inelasticity suggests that the quantity of a product or service supplied does not significantly change in response to a change in price. This often occurs when suppliers are unable or unwilling to alter their production levels, such as with certain commodities or natural resources that have limited availability.

   To summarize, inelasticity refers to a condition where demand or supply for a product or service remains relatively stable despite changes in price, indicating a low level of responsiveness to price fluctuations.

2. Not elastic.

   Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.

Common Misspellings for INELASTIC

• relastic
• unrelastic
• inelaastic
• inlastic
• inelastik
• Sinclastic
• inelasticly
• inelastical
• inelastick

Etymology of INELASTIC

The word "inelastic" is derived from the Latin prefix "in-" meaning "not" or "without", and the word "elastic".

The term "elastic" comes from the Latin word "elasticus", which originally meant "flexible" or "expanding". It derived from the Greek word "elastikos", meaning "propulsive" or "propelling". The Greek root of the term is "elastos", which translates to "ductile" or "pliant".

The prefix "in-" in English indicates negation or absence, thereby forming the opposite meaning of the word it is attached to. Thus, by adding "in-" to "elastic", the term "inelastic" is formed, meaning "not flexible" or "not expanding".

Similar spelling words for INELASTIC

• inelasticity,
• elastic.