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Meaning of price elasticity of demand | Babel Free

Noun CEFR C2

Definitions

An economic metric designed to measure how sensitive quantity demanded is to a change in the price of a good/service.

CEFR level

C2

Mastery
This word is part of the CEFR C2 vocabulary — mastery level.

See also

price elasticity of supply Price equation price fixing price flexing price floor price gouger