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NALT Concept Space
U.S. Department of Agriculture

NALT Full

Concept information

  1. Fields of Study
  2. economics
  3. econometrics
  4. elasticities
  5. demand elasticities
  1. Economics, Trade, Law, Business, Industry
  2. economics
  3. econometrics
  4. elasticities
  5. demand elasticities

Preferred term

demand elasticities

Type

  • Topic

Definition

  • Information Relationships between the change in the price of a commodity and the corresponding change in the quantity that is sold. If a small change in price is accompanied by a relatively large change in the quantity sold, demand is said to be elastic (responsive to price changes). But if a large change in the price is accompanied by a small change in the quantity sold, demand is said to be inelastic.

    Source: NAL Thesaurus Staff

    Type: Concept definition

Broader concept

Related concepts

Synonyms

  • elasticities of demand
  • elasticity of demand
  • price elasticities
  • price elasticity of demand

In other languages

URI

https://lod.nal.usda.gov/nalt/32240

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RDF/XML TURTLE JSON-LD Created 1/19/06, last modified 11/30/12