price elasticity

rate of change in the price of a product in relation to the rate of the amount of things offered

English contemporary dictionary. 2014.

Look at other dictionaries:

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  • price elasticity of demand — UK US noun [U] ► ECONOMICS ELASTICITY OF DEMAND(Cf. ↑elasticity of demand) …   Financial and business terms

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  • Price Elasticity Of Demand — A measure of the responsiveness of the quantity demanded of a good to a change in its price. It is calculated as: If a small change in price is accompanied by a large change in quantity demanded, the product is said to be elastic (or responsive… …   Investment dictionary

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  • Elasticity — may refer to:*Elasticity (physics), continuum mechanics of bodies which deform reversibly under stressVarious uses are derived from this physical sense of the term, especially in economics:*Elasticity (economics), a general term for a ratio of… …   Wikipedia

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