If a consumer’s willingness to demand a product is sensitive to a change in the price, then their elasticity of demand is elastic, or inelastic?
Definition
Elasticity measures consumers’ sensitivity to price changes.
Example
If consumers change their demand by a large amount when the price changes by a small amount, then consumer demand is elastic. If consumer demand changes by only a small amount when price changes, then it is inelastic. So, in the case of this question, demand is elastic.