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Pie
2 years ago
7

What is the best definition of elasticity in economics

History
2 answers:
Tanzania [10]2 years ago
6 0

Answer:

Elasticity of demand measures how the amount of a good changes when its price goes up or down.

Explanation:

I just took the test and I hope this helps.

ELEN [110]2 years ago
3 0
Elasticity is a measure of variables sensitivity to a change in another variable, refers the degree to which individuals, consumers, or producers change their demand of the amount supplied in response to price or income changes.
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