 # Elasticity of Demand

Knowledge Center

## Summary, forum, best practices, expert tips and information sources.

22 items • 28.913 visits

 Summary

### What is Elasticity of Demand? Meaning.

Elasticity of Demand indicates the responsiveness of demand to a change in a determinate. For instance, price, price of other goods and income. It measures the responsiveness of the quantity demanded of a good to its price.

You can calculate the (price) elasticity of demand by the percentage change in quantity demanded that occurs in response to a percentage change in price. For example: if in response to a 15% fall in the price of a good, the quantity demanded increases by 30%, the price elasticity of demand would be 30%/(− 15%) = −2.

See the Price Setting (Pricing) Knowledge Center for more on how elasticity of demand is used by marketers in product pricing.

 Special Interest Group Join
 Elasticity of Demand Special Interest Group. Special Interest Group (22 members) Forum New Topic

Forum about the Elasticity of Demand.

 🔥 NEW The Law of Supply and Demand: Correct or Wrong? Is the Law of Supply and Demand an actual economic phenomena or it is actually an indicator of declining humanity (somet (...) 7 11 comments Creating Elasticity of Demand... How? How to create elasticity of demand? (...) 5 Elasticity of Demand Formula Formula could also be given for the elasticity of demand in case of X and Y as: % change in X / % change Y (...) 4 Relevance of Elasticity of Demand and Supply Why is the concept of elasticity of demand and supply particularly relevant? (...) 3 Start a new forum topic about the Elasticity of Demand. More info.
 Best Practices The top-rated topics about the Elasticity of Demand. Here you will find the most valuable ideas and practical suggestions.

 Expert Tips Information Sources Various sources of information regarding the Elasticity of Demand. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.

 Research Links      News Videos Presentations Books More
 Special Interest Group
 Do you have a keen interest in the Elasticity of Demand? Become our SIG Leader  