elasticity in a sentence
n.
📚 Grade Level: Grade 9, Grade 10, Grade 11, Grade 12
Definition
Elasticity is a measure of the responsiveness of demand to changes in price, indicating how much the quantity demanded will change when the price changes.
Crossword clues for elasticity
Crossword clue ideas and answer hints for the word "elasticity".
- Ability to change quantity demanded with price shifts.
- Responsiveness of demand to price alterations.
- Measure of demand's reaction to price changes.
- How demand changes when prices fluctuate.
- Flexibility of quantity demanded in response to cost.
Elasticity sentence examples
- The elasticity of demand can significantly affect pricing strategies in retail.
- In economics, elasticity measures how responsive consumers are to changes in price.
- The rubber band demonstrated remarkable elasticity as it stretched and returned to its original shape.
- Understanding the elasticity of the labor market is crucial for policymakers.
- Climate change poses challenges to the elasticity of natural ecosystems in adapting to new conditions.