Perfectly inelastic demand occurs rarely in the real world. Close examples might include rare medicines, or fresh water in a time of drought: regardless of any price changes, these products will ...

The other extreme is a vertical demand curve that indicates an item is perfectly inelastic. These items are necessary and have no substitutes; for example, a life-saving drug that people will pay ...

An inelastic example is nuclear power, which has a long lead time given the construction, technical know-how, and long ramp-up process for plants. Perfectly inelastic supply is when the PES ...

One example of this forecasting of behavior ... more change in demand than in the price of a product or service. Perfectly inelastic demand means that demand remains constant regardless of price.