inelastic supply. A market situation in which any increase or decrease in the price of a good or service does not result in a corresponding increase or decrease in its supply.
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Housing seems to have an inelastic supply, as people are still buying expensive homes, and even when they aren't, homes are still being built. 11 people found this helpful. Due to the inelastic supply of stem bolts, the company was unable to procure the required number by offering a greater price per unit. 2 people found this helpful. You need to understand if you are offering an inelastic supply and figure out a way to correctly market it.
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Thus if there is an increase in price and no change in the amount of income available to spend on the good, there will be an elastic reaction in demand; demand will be sensitive to a change in price if there is no change in income.3.
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Inelastic supply means an increase in price causes a smaller % change in supply. It means firms have difficulty increasing supply in response to a rise in price. 1  Potatoes in the short term.
http://www.economicshelp.org/blog/7019/economics/examples-of-elasticity/
Elastic supply means an increase in price causes a bigger % change in supply. It means firms can easily increase supply in response to a change in price. 1  Firms operating below full capacity.
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There are three main factors that influence a demand's price elasticity: 1. The availability of substitutes-This is probably the most important factor influencing the elasticity of a good or service. In general, the more substitutes, the more elastic the demand will be. For example, if the price of a cup of coffee went up by $0.25, consumers could replace their morning caffeine with a cup of tea.
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We say a good is price elastic when an increase in prices causes a bigger % fall in demand. e.g. if price falls 20% and demand increases 80%, the PED = -4.0. Examples include: 1  Heinz soup. 2  These days there are many alternatives to Heinz soup.
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Price elasticity of demand measures the responsiveness of demand to a change in price. see: Price elasticity of demand. 1  Price inelastic – a change in price causes a smaller % change in demand.
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This flatter curve means that the good or service in question is elastic. Meanwhile, inelastic demand is represented with a much more upright curve as quantity changes little with a large movement in price. Elasticity of supply works similarly. If a change in price results in a big change in the amount supplied, the supply curve appears flatter and is considered elastic. Elasticity in this case would be greater than or equal to one.
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Examples of price inelastic demand. We say a good is price inelastic, when an increase in price causes a smaller % fall in demand, e.g. if price of petrol falls 30%, but demand for petrol only increases 10% the PED = – 0.33.
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example of product with elastic supply
The example of  product with elastic supply is firms operating below full capacity.