Economics Dictionary of ArgumentsHome
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| Elasticity (Economics) - Economics Dictionary of Arguments | |||
| Elasticity: In economics, elasticity is a measure of the response of one variable to a change in another variable. For example, the price elasticity of demand is a measure of how the demand for a good or service changes when the price changes. Elasticity is expressed as a percentage. An elasticity of 1 means that one variable reacts proportionally to the other variable. An elasticity of less than 1 means that one variable reacts less strongly than the other variable. Elasticity can help to understand the sensitivity of consumers and producers to market fluctuations. See also Price, Markets, Demand, Supply._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Item | More concepts for author | |
|---|---|---|---|
| Saez, Emmanuel | Elasticity (Economics) | Saez, Emmanuel | |
| Zucman, Gabriel | Elasticity (Economics) | Zucman, Gabriel | |
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Ed. Martin Schulz, access date 2024-04-27 | |||
