demand elasticities

{
  "id": "MLC-T-AGR-001752",
  "term": "demand elasticities",
  "field": "Agriculture and food",
  "definition": "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.",
  "synonyms": [
    "elasticities of demand",
    "elasticity of demand",
    "price elasticities",
    "price elasticity of demand"
  ],
  "subject": "Economics, Trade, Law, Business, Industry",
  "see_also": [
    "elasticities",
    "economic demand"
  ],
  "references": [
    "NAL Agricultural Thesaurus and Glossary"
  ],
  "translations": {
    "es": "elasticidad de la demanda"
  },
  "url": "https://mlchart.com/terminology/agriculture/demand-elasticities/"
}