# price elasticity of demand

price elasticity of demand
price elasticity of demand UK US noun [U]
ECONOMICS ELASTICITY OF DEMAND(Cf. ↑elasticity of demand)

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• Price elasticity of demand — Not to be confused with Price elasticity of supply. PED is derived from the percentage change in quantity (%ΔQd) and percentage change in price (%ΔP). Price elasticity of demand (PED or Ed) is a measure used in economics to show the… …   Wikipedia

• 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

• elasticity of demand — The degree of buyers responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity indicates sensitivity of demand to price, e.g.,… …   Financial and business terms

• Price elasticity of supply — In economics, the price elasticity of supply is defined as a numerical measure of the responsiveness of the quantity supplied of product (A) to a change in price of product (A) alone. :E s = frac{% mbox{change in quantity supplied{% mbox{change… …   Wikipedia

• price elasticity — ➔ elasticity of demand …   Financial and business terms

• Cross elasticity of demand — Economics …   Wikipedia

• 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

• Income elasticity of demand (YED) — In economics, the income elasticity of demand measures the responsiveness of the quantity demanded of a good to the change in the income of the people demanding the good. It is calculated as the ratio of the percent change in quantity demanded to …   Wikipedia

• Wealth elasticity of demand — in microeconomics is the relation of the proportional change in consumption of a good to a proportional change in wealth (as distinct from changes in personal income). Measuring and accounting for the variability in this elasticity is a… …   Wikipedia

• price elasticity — / praɪs i:læˌstɪsɪti/ noun a situation where a change in price has the effect of causing a big change in demand …   Marketing dictionary in english