A business' demand for a good is based on the price of the good. When prices rise, the business will buy less of the good. When prices drop, the business will purchase more of the good. A business' ...

According to the law of demand, when the price of a product goes up, consumers will buy less of it and vice versa. The concept of elasticity measures how much less consumers will buy when the price ...

Demand elasticity is a phenomenon where demand for a specific good or service changes depending on factors such as how it is priced, whether alternatives are available or local income trends.

The concept of price elasticity of demand (PED) is fundamental to understanding the nature of demand. PED measures the ...

The economic concept, which describes consumers’ sensitivity to prices, is a hot topic as inflation soars and executives fret about profits. By Jason Karaian and Veronica Majerol S&P 500 company ...

This paper uses data from the Current Population Survey to analyze determinants of cigarette demand. Price elasticities for smoking participation and quantity of cigarettes smoked are between -0.4 and ...

The article presents evidence on elasticities of demand for services of railway passenger transportation in Slovenia. According to the aggregate values of demand elasticities, the railway passenger ...