Products for which customers are not sensitive to price changes are said to be ______.

A) price elastic
B) price inelastic
C) price volatile
D) price subjective

Price Inelastic

A characteristic of goods or services whose demand does not significantly change with changes in price, indicating that consumers are relatively unresponsive to price adjustments.

Price Elastic

Describes a condition where the demand for a product or service changes significantly in response to a change in its price.

Price Volatile

describes a market condition where prices fluctuate unpredictably and often, which can affect buying and selling decisions.