price effect

Popular Terms
The impact that a change in value has on the consumer demand for a product or service in the market. The price effect can also refer to the impact that an event has on something's price. The price effect consists of the substitution effect and the income effect.

Use 'price effect' in a Sentence

I wondered what the price effect would mean for our company and our partners as well, because it was hard.
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The price effect of gasoline's rising cost is that many people are not traveling far from home this holiday season.
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When they decided to raise the price on televisions people bought far fewer due to the price effect consumers experienced.
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