Price Elasticity Of Demand

Business / Agriculture / Price Elasticity Of Demand: The relationship between the change in the price of a commodity and the corresponding change in the quantity that is sold. If a small change in the 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. The demand for many farm products is relatively price inelastic. As a result of low price elasticity of demand, shifts in supply can have large impacts on prices. For example, the presence of surpluses results in disproportionately large price declines, and conversely shortages result in large price increases. For these reasons, agriculture often is described as an inherently unstable industry.

Other Words for Demand

Demand Verb Synonyms: claim, ask (for), require, insist on, exact
Demand Noun Synonyms: require, order, bid, call (for), insist, command
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Other Words for Elasticity

Elasticity Adjective Synonyms: flexibility, resilience, rubberiness, plasticity, ductility, springiness, stretchability, stretchiness, stretch, suppleness, pliancy, give
Elasticity Noun Synonyms: flexibility, adjustability, adaptability, tolerance, suppleness
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Other Words for Price

Price Verb Synonyms: sacrifice, toll, penalty, cost, consequence
Price Noun Synonyms: charge, cost, expense, expenditure, outlay, payment, amount, figure, fee, quotation, appraisal, value, valuation, evaluation, worth
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Portfolio Internal Rate Of Return

Business / Finance / Portfolio Internal Rate Of Return: The rate of return computed by first determining the cash flows for all the bonds in the portfolio and then finding the interest rate that will make the present value of the cash flows equal to the ma MORE

Port-Of-Call

Life Style / Travel / Port-Of-Call: A country, island or territory, or population center a cruise ship visits. MORE

Pooling Of Interests

Business / Finance / Pooling Of Interests: An accounting method for reporting acquisitions accomplished through the use of equity. The combined assets of the merged entity are consolidated using book value, as opposed to the purchase method, w MORE

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