What industries have an inelastic demand?
When we talk about elasticity of demand, we refers to the responsiveness of consumer over to a change in demand determinants (factors affecting demand). Therefore, demand is inelastic if the consumers are not responsive to any changes from determinants of demand. Lets say there is a 50% change in price but qty. demanded remain unchanged assuming other determinants are constant (non-price determinants) (here we are refering to demand price elasticity) Going back to your question to what industries have an inelastic demand? All industries can experience/encounter inelastic demand. It depends on how consumers respond to every changes in determinants in a given time and situation. It is very common to a goods that there is no perfect substitute or related goods for it or in an economy that no one can produce it.
