
Home > Terms > Spanish, Latin American (XL) > elasticidad del precio de la demanda
elasticidad del precio de la demanda
The relationship between the change in the price of a commodity and the corresponding change in the quantity that is sold. If a small change in the 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. The demand for many farm products is relatively price inelastic. As a result of low price elasticity of demand, shifts in supply can have large impacts on prices. For example, the presence of surpluses results in disproportionately large price declines, and conversely shortages result in large price increases. For these reasons, agriculture often is described as an inherently unstable industry.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Agriculture
- Category: Agricultural programs & laws
- Company: USDA
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Floyd Mayweather
Born Floyd Sinclair on February 24, 1977, an American professional boxer. He is a five-division world champion, where he won nine world titles in five ...
Contributor
Featured blossaries
Dindadink
0
Terms
3
Blossaries
1
Followers
The Kamen Rider TV Series


Browers Terms By Category
- Fuel cell(402)
- Capacitors(290)
- Motors(278)
- Generators(192)
- Circuit breakers(147)
- Power supplies(77)
Electrical equipment(1403) Terms
- Hair salons(194)
- Laundry facilities(15)
- Vetinary care(12)
- Death care products(3)
- Gyms(1)
- Portrait photography(1)
Consumer services(226) Terms
- Body language(129)
- Corporate communications(66)
- Oral communication(29)
- Technical writing(13)
- Postal communication(8)
- Written communication(6)
Communication(251) Terms
- Cultural anthropology(1621)
- Physical anthropology(599)
- Mythology(231)
- Applied anthropology(11)
- Archaeology(6)
- Ethnology(2)
Anthropology(2472) Terms
- General law(5868)
- Contracts(640)
- Patent & trademark(449)
- Legal(214)
- US law(77)
- European law(75)