If the price elasticity of demand is less than one, then the demand for the goods is said to be _____

• Inelastic Demand:
When due to change in price (whether increase or decrease), quantity demanded remains same, it is known as inelastic Demand.
In case of inelastic Demand, when the price is increased, it will cause the total expenditure of the consumer to increase because total expenditure = quantity demanded × price.
The demand will not change but the change in price cause consumer's total expenditure to increase.​

🔴Additional Information:
Perfectly inelastic
A perfectly inelastic demand has an elasticity of 0.
A perfectly inelastic demand is one when there is no change in the demand for a product with a change in its price.
For a perfectly inelastic demand, the demand curve is represented as a straight vertical line.
Perfectly elastic
When a small change in the price of a product causes a major change in its demand, it is said to be perfectly elastic demand.
In perfectly elastic demand, a small rise in price results in a fall in demand to zero, while a small fall in price causes an increase in demand to infinity.
In such a case, the demand is perfectly elastic or e = ∞.
Unitary elastic
The demand curve for unitary elastic demand is a rectangular hyperbola.
When the proportionate change in demand produces the same change in the price of the product the demand is referred to as unitary elastic demand.
The elasticity of a unitary elastic demand is 1.