What is the elasticity of demand

Welcome to UnProfesor, in today's video of a fundamental concept in the field of the market: The elasticity of demand.

The voluntary act in the buy and sell of a product, it is always the purchase. A salesperson wants to sell his product, but cannot choose his client. However, the customer is the one who chooses the moment at which he makes the purchase.

Therefore, the price increase or decrease It can have important consequences when deciding whether to make the purchase or not.

If the increase or decrease in price implies little increase or little decrease in demand, we will speak of a inelastic demand. The element of inelasticity means that, in the face of a given price increase, the decrease in demand is not as significant as the price that has increased.

If you have any questions or comments about itelasticity of demand, you can do it through our website. And if you want to practice more, you will find below this video, some printable exercises with solutions for you to do.