price elasticity

Definition


Use price elasticity in a sentence

  • The price elasticity of the market was severe so we needed to seriously understand our customer to best serve and please them.

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  • Sometimes when the demand gets up you can take advantage of the price elasticity and start charging a bit more for your product.

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  • The recent global economic recession produced an unusual price elasticity in many business industries requiring companies to adapt to the pressures and changes impacted by low consumer confidence.

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