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Concept Breadcrumbs

Preferred Term:

demand elasticities

Definition:
Relationships between the change in the price of a commodity and the corresponding change in the quantity that is sold. If a small change in price is accompanied by a relatively large change in the quantity sold, demand is said to be elastic (responsive to price changes). But if a large change in the price is accompanied by a small change in the quantity sold, demand is said to be inelastic.
Concept Schemes:
https://lod.nal.usda.gov/nalt-core
NALT Full
Broader Concept:
Entry Terms:
  • elasticities of demand
  • price elasticities
  • price elasticity of demand
  • elasticity of demand
URI:
https://lod.nal.usda.gov/nalt/32240
Download this Concept:
RDF/XMLCreated 2006-01-19, last modified 2012-11-30