| 释义 |
Definition of price elasticity in English: price elasticitynoun mass nounEconomics A measure of the effect of a price change or a change in the quantity supplied on the demand for a product or service. Example sentencesExamples - On the demand side, agricultural products have a very low price elasticity.
- If the company assumes that price elasticity of demand is close to perfectly inelastic, it can charge what it likes.
- For instance, when you're selling spare parts one at a time, there's a lot of price elasticity there; customers need these parts right away if their machines are down.
- Look for services with high fixed costs, price elasticity - meaning that consumers will typically buy more if prices drop - and the ability to be ordered over the Internet.
- The telecommunications sector exhibits strong price elasticity of demand.
|