When a good or service is considered to have perfectly elastic demand, a change in price would eliminate all demand for the product. Relatively elastic demand means that there will be more change ...

Demand for fuel is, in most cases, relatively inelastic. Conversely, a TV is an item with relatively elastic demand – or demand that easily changes. In most markets, if the price of a TV were to ...

tend to be relatively elastic. The demand curve for a perfectly inelastic good is depicted as a vertical line in graphical presentations because the quantity demanded is the same at any price.

For goods with perfectly elastic demand, a price change would eliminate all demand for the product. Relatively elastic demand means you can expect more change in demand than in the price of a ...