Price Elasticity Crossword
Format
How far does demand move when price does? Ten clues on elasticity concepts.
- Level
- Higher education
- Subject
- Economics
- Category
- Economics
- Slides
- 10
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What's inside
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First slides
- Describes demand whose quantity changes by a larger percentage than the price does
- Buyers' willingness and ability to purchase a good at each possible price
- A rival good buyers can switch to, which makes demand more responsive to price
- A non-essential good, such as a cruise, whose demand is very responsive to price
- An essential good, such as basic medicine, whose demand barely responds to price
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