Skip to main content

This link is exclusively for students and staff members within this organisation.

Unauthorised use will lead to account termination.

Previous

The Brazilian economy: how bad is it?

Next

Saudi Arabia’s new strategy

back to basics

Ten things you need to know about elasticity of demand

Ian Marcousé provides a framework of key concepts for your marketing revision

The extent to which demand for a product is affected by an independent variable.

Example: sales of chocolate are affected by hot weather. Above 20°C, for every 1 extra degree, sales of chocolate can fall by 10% — so the temperature elasticity of demand for chocolate is high.

Your organisation does not have access to this article.

Sign up today to give your students the edge they need to achieve their best grades with subject expertise

Subscribe

Previous

The Brazilian economy: how bad is it?

Next

Saudi Arabia’s new strategy

Related articles: