Assertion: price elasticity | /r/Synonym | the elasticity of demand
Facets:
value: commonly
type: DEGREE
Source sentences:
text: The price elasticity of demand, commonly known as the elasticity of demand refers to the responsiveness and sensitiveness of demand for a product to the changes in its price.
text: Definition: The Price Elasticity of Demand is commonly known as the elasticity of demand, which refers to the degree of responsiveness of demand to the change in the price of the commodity.