单词 | advertising elasticity of demand |
释义 | advertising elasticity of demandDefinition The degree to which demand for a good or service will vary with its price. Typically, sales go up with a drop in price and sales go down when prices rise. As a general rule, non-essential items show elasticity of demand and most necessary items such as food and basic clothing will show an inelasticity of demand, meaning that they do not sell significantly more or less with changes in price. |
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