Having an elasticity less than one. For a price elasticity of demand, this means that expenditure falls as price falls. For an income elasticity it means that expenditure share falls with rising income. Contrasts with elastic and unit elastic. Found on http://www-personal.umich.edu/~alandear/glossary/i.html
Refers to the economic concept of the inability to quickly adjust supply or demand despite changes in market conditions. Found on http://www.oasismanagement.com/glossary/
A collision or interaction in which kinetic energy is not conserved. See also: Elastic Collisions, Kinetic Energy. Found on https://www.encyclo.co.uk/local/20687
not elastic; lacking flexibility or resilience; unyielding. · relatively unresponsive to changes, as demand when it fails to increase in proportion to a decrease in price. Cf. elastic (def. 6). Found on https://www.infoplease.com/dictionary/inelastic