Elasticity: Difference between revisions
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1. | 1. ''Variance.'' | ||
The degree of responsiveness in one variable to changes in another variable. | The degree of responsiveness in one variable to changes in another variable. | ||
2. ''Economics.'' | 2. ''Economics.'' | ||
Typically a percentage change in quantity compared to a percentage change in price. | Typically a percentage change in quantity compared to a percentage change in price. | ||
Commonly used to describe price elasticity of demand and price elasticity of supply. | Commonly used to describe price elasticity of demand and price elasticity of supply. | ||
== See also == | == See also == | ||
* [[Income elasticity of demand]] | * [[Income elasticity of demand]] | ||
* [[Normal good]] | |||
* [[Price elasticity of demand]] | * [[Price elasticity of demand]] | ||
* [[Price elasticity of supply]] | * [[Price elasticity of supply]] | ||
* [[Variance]] | * [[Variance]] | ||
[[Category:The_business_context]] | |||
Latest revision as of 09:08, 8 April 2021
1. Variance.
The degree of responsiveness in one variable to changes in another variable.
2. Economics.
Typically a percentage change in quantity compared to a percentage change in price.
Commonly used to describe price elasticity of demand and price elasticity of supply.
