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... > social science subjects > economics > economic systems > market economy > market forces > supply and demand > economic demand > elasticity of demand
... > social science subjects > politics and international relations > political science > comparative politics > economic systems > market economy > market forces > supply and demand > economic demand > elasticity of demand
... > social science subjects > economics > economic concepts > political economy > market economy > market forces > supply and demand > economic demand > elasticity of demand
... > social science subjects > politics and international relations > political science > political economy > market economy > market forces > supply and demand > economic demand > elasticity of demand
... > social science subjects > economics > microeconomics > supply and demand > economic demand > elasticity of demand

Preferred term

elasticity of demand  

Definition

  • The quantity demanded of a good or service responds to changes in its own price, changes in the price of other goods or services, and changes in consumer income. Demand elasticities measure the responsiveness of the quantity demanded to changes in these factors. [Source: Encyclopedia of Health Care Management; Elasticity of Demand]

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https://concepts.sagepub.com/social-science/concept/elasticity_of_demand

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