elastic demand

 

 

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elastic demand

 

Glossary micro and macro economics

 

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Economics

 

Definition of elastic demand

 

elastic demand : product or resource demand whose price elasticity is greater than 1. This means that the resulting percentage change in quantity demanded is greater than the percentage change in price.

 

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Glossary micro and macro economics

 

Micro and macro economics glossary index of terms

 

 

Definition and meaning of elastic demand

 

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