LESS ELASTIC DEMAND MORE ELASTIC DEMAND

15.     less elastic demand	more elastic demand
1.      Meaning The proportionate change in quantity demanded of a commodity is less in response to change in its price. 2.      Examples Demand for products like liquor, cigarettes, etc is less elastic.	The proportionate change in quantity demanded of a commodity is more in response to change in its price. Demand for luxury and consumer durables like cars, refrigerators, etc, is more elastic.