In economics, if a good is inelastic, consumers have lost an interest in purchasing it. producers have lost an interest in manufacturing it. its supply or demand is too sensitive to price changes. its supply or demand is not sensitive to price changes.

Its supply or demand is not sensitive to price changes.

Explanation:

Goods which fall under inelastic category if that product is considered as primary or basic needs for most consumers.

Example of such goods is food and water. No matter how much the price of food and water rises, the demand for these goods would stay the same or alike because people have to use them to full fill their daily basic needs.

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