Assertion: price elasticity | /r/HasProperty | economic measurement
Facets:
Source sentences:
text: Definition: Price elasticity of supply is an economic measurement that calculates how closely the price of a product or service is related to the quantity supplied.
text: Key Takeaways Income elasticity of demand is an economic measure of how responsive the quantity demand for a good or service is to a change in income.
text: Definition: Cross price elasticity of demand, often called cross elasticity, is an economic measurement that show how the quantity demanded for one good responds when the price of another good changes.