PRICE STICKINESS
\pɹˈa͡ɪs stˈɪkinəs], \pɹˈaɪs stˈɪkinəs], \p_ɹ_ˈaɪ_s s_t_ˈɪ_k_i_n_ə_s]\
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A market situation where in spite of the increase in the cost of production, the price does not change. For example, a business that is worried about increasing prices as it may drive customers away is subject to price stickiness. Prices do not move with ease in such situations.
By Henry Campbell Black
