Answer : 1. "its supply or demand is not sensitive to price changes."
Explanation :

Answer: A) its supply or demand is not sensitive to price changes. Explanation: A good that is inelastic does not have very stretchy demand. In economic terms, the quantity demanded does not change a lot when the price changes. What do I mean by "does not change a lot"? If the percent change in quantity demanded is less than the percent change in price, economists label the demand for the good as inelastic.   So, if the price of a good increases by 10 percent and the quantity demanded decreases by only 5 percent, that good is said to have inelastic demand. The quantity demanded does not stretch much relative to the change in price.   Hence, in this case, consumers are not considered very sensitive, or responsive, to a change in the price of that good.