Elasticity of Demand

  The ratio of the percentage change in the quantity of a good or service demanded to the percentage change in the price.

Energy terms . 2014.

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  • income elasticity of demand — ➔ elasticity of demand * * * income elasticity of demand UK US noun [U] ► ECONOMICS the degree to which the number of products bought changes when income changes: » In Japan, the income elasticity of demand for exports is far higher than for… …   Financial and business terms

  • Cross Elasticity Of Demand — An economic concept that measures the responsiveness in the quantity demand of one good when a change in price takes place in another good. The measure is calculated by taking the percentage change in the quantity demanded of one good, divided by …   Investment dictionary

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  • Income Elasticity Of Demand — A measure of the relationship between a change in income and a change in quantity of a good demanded: The degree to which a demand for a good changes with respect to a change in income depends on whether the good is a necessity or a luxury. The… …   Investment dictionary

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