inelastic demand The situation when quantity responds minimally to a price change and, as a result, total expenditures move in the same direction as price.Related Articles: A Tank of GasMovie TicketsSin Taxes: CigarettesCompetition: Pick Two, Get One.The WestJet "Christmas Miracle" Ann Mills Share This Previous Articlegross national product (GNP) Next ArticleM2 December 17, 2020