Beruflich Dokumente
Kultur Dokumente
(PED)
Price inelastic demand Unitary inelastic demand Perfectly price elastic demand
Perfectly price inelastic Determinants of price elastic Cross elasticity of demand
demand demand (XED)
Income elasticity of demand Income elastic demand Income inelastic demand
(YED)
Firm’s Revenue Elasticity Government revenue
Key Terms
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Price elasticity of demand (PED)
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Price elastic demand
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Price inelastic demand
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Unitary inelastic demand
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Perfectly price elastic demand
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Perfectly price inelastic demand
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Determinants of price elastic demand
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Cross elasticity of demand (XED)
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Income elasticity of demand (YED)
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Income elastic demand
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Income inelastic demand
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Firm’s Revenue
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Government revenue
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Primary sector / primary commodities
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Manufacturing sector
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Tertiary sector or service sector
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Price elasticity of supply (PES)
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Price elastic supply
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Price inelastic supply
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Unitary elastic supply
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Perfectly price elastic supply
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Perfectly price inelastic supply
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Determinants of price elastic supply
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Immediate time period
During immediate time period all the factors of production are fixed or
constant.
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Short run
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Long run
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