Price Elasticity

Price Elasticity of Demand Relates to the sensitivity of customers to price changes in terms of the quantities they will buy.

price elasticity
buyers' sensitivity to price, measured by the percentage change in quantity demanded that results from a percentage change in price, see price inelasticity
price fixing ...

price elasticity of demand A measure of how responsive demand for a product is to changes in price.
privatization The sale of state-owned enterprises to private investors.

Price elasticity of demand: the responsiveness of demand to changes in prices.

Price elasticity of demand
Price elasticity of demand measures the responsiveness of a change in demand for a product following a change in its own price
Price sensitivity ...

price elasticity analysis, optimal price setting, discount options
External Factors
competitive analysis, legal environment; social and cultural trends ...

See Price Elasticity. Price Elasticity buyers' sensitivity to price; measured by the percentage change in quantity demanded that results from a percentage change in price. See Price Inelasticity.

Consider, for example, what we can do when there is a large degree of price elasticity-i.e., when some consumers are willing to pay more than others.

See also: Product, Customer, Demand, Elasticity, Price