Elastic demand,
Definition of Elastic demand:
Demand that increases or decreases as the price of an item goes down or up. See also elasticity of demand.
How to use Elastic demand in a sentence?
- There was elastic demand for our product so we made sure to analyze everything our competitors were doing in the market.
- Some of your products may have an elastic demand that will not always stay the same and you will have to deal accordingly.
- When a shortage of milk struck Great Britain, the effects of elastic demand caused prices to soar to new heights never before seen.
Meaning of Elastic demand & Elastic demand Definition
