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demanda inelástica al precio (contradiction?)

English translation: demand [is] inelastic with respect to price

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01:58 Jan 20, 2011
Spanish to English translations [PRO]
Bus/Financial - Economics / generic drug prices
Spanish term or phrase: demanda inelástica al precio (contradiction?)
This is a chapter on the economics of drug pricing in a larger document on generic drug strategies.

My proposed translation of this phrase is 'inelastic demand relative to the price'. I may be misinterpreting the text, but there seems to be a contradiction between "inelasticidad de precio" and "demanda inelástica al precio." While the heading says 'price inelasticity', the rest of the text emphasizes inelasticity of the demand, which allows for elasticity in the prices. See the full context below. Help!

Esta fuerte diferenciación por marcas en la producción, circulación y consumo de medicamentos tiene en particular 3 consecuencias:
- Alta dispersión de precios: Tanto en países en desarrollo como en países desarrollados, la dispersión en los precios de los medicamentos es muy alta. Se trata de la consecuencia de toda una compleja lógica de producción, comercialización (incluyendo aquí prescripción y dispensación) así como de utilización de los productos que propician su diferenciación.
- Inelasticidad de precio: El medicamento como bien registra una **demanda inelástica al precio**, lo que quiere decir que las cantidades de medicamentos demandados varían menos que proporcionalmente a la variación de su precio. En una situación de libre mercado, una demanda de medicamentos inelástica en presencia de una industria farmacéutica altamente concentrada deja al consumidor en una situación de gran vulnerabilidad. La existencia de pocas empresas por el lado de la oferta (oligopolios) hace que las mismas tengan cierto control sobre el precio, con lo cual éstas podrían elevar sus precios sin que ello genere grandes disminuciones en la demanda, especialmente en productos necesarios para el mantenimiento de la salud . . .
Muriel Vasconcellos
United States
Local time: 08:29
English translation:demand [is] inelastic with respect to price
Explanation:
"Demand [is] inelastic with respect to price" is a standard expression in economics. It's usually shortened to "demand is inelastic", since elasticity with respect to other variables than price, such as the weather or religious beliefs, is seldom considered.
Selected response from:

Carl Stoll
Local time: 10:29
Grading comment
Thanks, Carl!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +4demand [is] inelastic with respect to price
Carl Stoll
3 +1demand persists/remains constant irrelevant of cost
David Hollywood


Discussion entries: 4





  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
demand persists/remains constant irrelevant of cost


Explanation:
I would suggest

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Note added at 9 mins (2011-01-20 02:08:10 GMT)
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the consumers need the product and have to pay regardless of the cost ...

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Note added at 10 mins (2011-01-20 02:09:24 GMT)
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the socioeconomic downside of supply and demand ...

David Hollywood
Local time: 12:29
Native speaker of: Native in EnglishEnglish
PRO pts in category: 56

Peer comments on this answer (and responses from the answerer)
agree  Claudia Reynaud
2 mins
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2 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +4
demand [is] inelastic with respect to price


Explanation:
"Demand [is] inelastic with respect to price" is a standard expression in economics. It's usually shortened to "demand is inelastic", since elasticity with respect to other variables than price, such as the weather or religious beliefs, is seldom considered.

Carl Stoll
Local time: 10:29
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 11
Grading comment
Thanks, Carl!
Notes to answerer
Asker: Thanks! What is your opinion about the earlier "inelasticidad de precio"? Do you think it's a mistake?


Peer comments on this answer (and responses from the answerer)
agree  Charles Davis
5 hrs

agree  James A. Walsh
6 hrs

agree  Neil Ashby: But, in the Oxford Business Dictionary that I have here it is simply 'inelastic demand with respect to price'
6 hrs

agree  Bill Harrison: But I think 'price inelasticity of demand' is the more academic way of phrasing it.
9 hrs
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