Demand Wrap Up

Inelastic Demand

           Inelastic demand is when a good or service is needed, and obtained by consumers with little attention payed for the good. So basically, the supply and demand are hardly affected by the price. I have experienced this sort of demand in my life through my dads Business. My Dad is a Site Core Developer now but before he was trained three years ago to be specialized in this field he was a normal run of the mill developer and computer engineer. His job used to be very generalized and there were a lot of people that could do what he did so his business was elastic because there were many substitutes to his work. Once he became specialized with Site Core and started his own business I experienced how inelastic demand worked. My dad was able to charge more for his services because his services were required by a lot of large businesses and it was a specialized field. What makes this inelastic is that the supply and demand of his service was hardly affected by the price of his service. 

       I have been able to connect to both elastic and inelastic demand because I experienced how it can affect a business and income of a family. What are other ways that are less complicated then this that are good examples to use to try and explain this to people? And how can people relate with it when they haven't seen it from the side of the supplier?