Cryptocurrency Q&A
What are the factors influencing elasticity of demand?
What are the factors influencing elasticity of demand?
Thu Jan 09 2025
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7 answers
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I'm trying to understand the concept of demand elasticity and what factors can affect it. I want to know what are the main elements that influence the elasticity of demand in a market or for a specific product.
7 answers
Sat Jan 11 2025
Their purchasing power and consumption patterns are more sensitive to price movements.
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Sat Jan 11 2025
High-income households and consumers generally exhibit low elasticity of demand.
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Sat Jan 11 2025
Multiple factors play a crucial role in shaping demand elasticity.
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Sat Jan 11 2025
Their demand for products and services does not fluctuate significantly with price changes.
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Sat Jan 11 2025
Income level is a fundamental determinant, as it directly affects consumers' spending power.
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