A measure of how much the demand for a good or service increases or decreases in response to changes in price. A necessary good such as water or a service such as medical care might have low elasticity, since demand for such goods and services remains relatively stable at nearly any price.
Related information about elasticity of demand:
- Price elasticity of demand - Wikipedia, the free encyclopedia
Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service ...
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Definition of elasticity of demand: The degree to which demand for a good or service varies with its price. Normally, sales increase with drop in prices and ...
- Price Elasticity of Demand - Economics - About.com
Article gives a common-sense and easy to understand explanation of what price elasticity of demand is and how to calculate the price elasticity of demand.
- Price elasticity of demand - tutor2u | Economics | Business Studies
Sep 23, 2012 ... Price elasticity of demand measures the responsiveness of demand after ... The formula for calculating the co-efficient of elasticity of demand is: ...
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Sal's Maths does not make sense. Surely a change in Quantity from 2 to 4 would be 1, not 2/3? In Economics we were told to calculate it like this: (P1-P0)/P0 or ...
- Episode 16: Elasticity of Demand - YouTube
Jul 18, 2009 ... We know that consumers will react to price changes, but how MUCH will they react? Knowing this is important to business owners and ...
- Price Elasticity of Demand - part 1 - YouTube
Dec 9, 2007 ... What this important concept in economics means and how PED values are calculated and interpreted.
- Price Elasticity of Demand - QuickMBA
The meaning of price elasticity of demand and the factors that influence it.