Eagle Scout On his twelfth birthday, Ford joined the local Boy Scout Troop 15 of Trinity Methodist Church and two years later attained the rank of Eagle Scout. Gridiron Glory Ford attends the University of Michigan and graduates with a B.A. in Economics. Ford also plays center on the football team and receives professional football contract offers from the Green Bay Packers and the Detroit Lions, which he declines.
inelastic - not elastic; economists speak of an inelastic price structure. inflexible - resistant to being bent; an inflexible iron bar; an inflexible knife blade; elastic - capable of resuming original shape after stretching or compression; springy; an elastic band; a youthful and elastic walk.
1 When the price elasticity of demand for a good is perfectly inelastic (E d = 0), changes in the price do not affect the quantity demanded for the good; raising prices will always cause total revenue to increase.n general, the demand for a good is said to be inelastic (or relatively inelastic) when the PED is less than one (in absolute value): that is, changes in price have a relatively small effect on the quantity of the good demanded.