Price elasticity:指价格变动对需求量变动的反应程度,是经济学中的一个重要概念,如“The price elasticity of demand for luxury goods is usually low.”(奢侈品的需求价格弹性通常较低。) Price gouging:指哄抬物价,尤其是在紧急情况下,如自然灾害后,商家恶意提高商品价格以获取暴利,如...
ThePrice elasticity of demandof a product refers tothe responsiveness of the quantity demanded for it to changes in its price. PED (of a product) = % change in quantity demanded /% change in price For example, calculate the price elasticity of demand of Coca-Cola from this diagram. PED= ...
1. They are luxury goods, e.g. sports cars 2. They are expensive and a big % of income e.g. sports cars and holidays 3. Goods with many substitutes and a very competitive market. E.g. if Sainsbury’s put up the price of its bread there are many alternatives, so people would be...
Price elasticity of supply is the responsiveness of a supply of a good or service after a change in itsmarket price. According to basic economic theory, the supply of a good will increase when its price rises. Conversely, the supply of a good will decrease when its price decreases. This h...
Price sensitivity can be explained using the price elasticity of demand, a concept in economics that measures the variation in product demand as the price of the product itself varies. In consumer behavior, price sensitivity describes and measures fluctu
The price elasticity of demand determines the change in the quantity demanded of a particular good or service when the price changes by a certain percentage. For goods with perfectly elastic demand, a price change would eliminate all demand for the product. ...
If the income elasticity of demand is less than 1, the demand for a good is income inelastic; If the income elasticity of demand is larger than 1, the demand for a good is income elastic. Normal goods and inferior goods: 正常品: When the income elasticity of demand is positive, the go...
Why would the price elasticity of demand for an individual firm's product be greater than the elasticity of the overall product market? What is the difference between long-run and short-run price elasticity? For durable goods, the short-run income elasticity...
百度试题 结果1 题目If the cross-price elasticity of demand for two goods is negative, these two good are () A. Luxury goods. B. Necessities. C. Substitutes. D. Complements. 相关知识点: 试题来源: 解析 D 暂无解析 反馈 收藏
Understanding Price Elasticity of Demand Economists have found that the prices of some goods are veryinelastic. That is, a reduction in price does not increase demand much, and an increase in price does not hurt demand, either. This usually happens when there is no good substitute for a produ...