What is another word for price elasticity of demand?

Pronunciation: [pɹˈa͡ɪs ɪlastˈɪsɪti ɒv dɪmˈand] (IPA)

Price elasticity of demand is a term used to describe the sensitivity of demand for a product in response to a change in its price. However, there are several synonyms for this term which are frequently used interchangeably. Some of these synonyms include demand elasticity, price responsiveness, price sensitivity, demand sensitivity, and elasticity of demand. All of these terms convey a similar idea of measuring how much a change in price affects the demand for a particular product. This concept is essential for businesses and policymakers to understand as it can help them make informed decisions about pricing strategies and market movements.

Synonyms for Price elasticity of demand:

What are the hypernyms for Price elasticity of demand?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.
  • Other hypernyms:

    income elasticity, demand elasticity, Cross-price elasticity, Price responsiveness, Substitution elasticity.

Related words: price elasticity of demand equation, price elasticity formula, price elasticity of demand graph, price elasticity of demand calculation, elasticity of demand, price elasticity graph, price elasticity differential, inelastic demand, elastic demand

Related questions:

  • What is price elasticity of demand?
  • How do you calculate price elasticity of demand?
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