Elastic Demand in a sentence
Antonym: inelastic demand
Meaning: A situation in which demand for a product changes significantly with price changes; often used in economics.
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(1) Elastic demand can lead to market instability.
(2) Elastic demand can lead to excess supply in the market.
(3) Elastic demand can lead to price wars among competitors.
(4) Elastic demand can result in frequent price fluctuations.
(5) The market for luxury goods often exhibits elastic demand.
(6) Elastic demand is commonly observed in competitive markets.
(7) The price increase resulted in elastic demand for the product.
(8) Elastic demand can be influenced by changes in consumer income.
(9) Elastic demand can create opportunities for price discrimination.
(10) Elastic demand can create opportunities for price differentiation.
Elastic Demand sentence
(11) The company implemented a discount strategy to stimulate elastic demand.
(12) Elastic demand allows consumers to easily switch to alternative products.
(13) Elastic demand means that consumers are highly responsive to price changes.
(14) The company's sales fluctuated due to the elastic demand for their products.
(15) The company adjusted its pricing strategy to accommodate the elastic demand.
(16) Elastic demand can make it difficult for businesses to forecast future sales.
(17) Elastic demand means that consumers are highly responsive to changes in price.
(18) Elastic demand is more likely to occur for non-essential goods or luxury items.
(19) Elastic demand can be influenced by factors such as availability of substitutes.
(20) The company's pricing strategy was designed to take advantage of elastic demand.
Elastic Demand make sentence
(21) Elastic demand can make it challenging for businesses to maintain stable revenues.
(22) Elastic demand requires businesses to be responsive to changing market conditions.
(23) The company's success was driven by the elastic demand for their innovative product.
(24) The company's profits were affected by the elastic demand for their low-cost product.
(25) Elastic demand is a key concept in economics that helps understand consumer behavior.
(26) The company's pricing strategy was adjusted to match the elastic demand in the market.
(27) The company's marketing campaign aimed to increase awareness and reduce elastic demand.
(28) Elastic demand is often associated with products that have a long lifespan or durability.
(29) Elastic demand is a concept that helps businesses determine the optimal pricing strategy.
(30) The company faced a decline in sales due to the elastic demand for their outdated product.
Sentence of elastic demand
(31) Elastic demand is more likely to occur for goods that are considered luxury or non-essential.
(32) A perfectly elastic demand indicates that consumers are extremely responsive to price changes.
(33) Elastic demand is more likely to occur for goods that are considered non-essential or discretionary.
(34) Elastic demand indicates that small price changes can have a significant impact on quantity demanded.
(35) The company faced challenges in maintaining profitability due to the elastic demand for their product.
(36) Elastic demand is commonly observed in markets for non-essential items such as vacations or entertainment.
(37) Elastic demand is a fundamental concept in economics that helps analyze market dynamics and consumer behavior.
(38) Elastic demand implies that a small change in price leads to a proportionally larger change in quantity demanded.
(39) When the price of gasoline rises, consumers tend to reduce their driving, illustrating the elastic demand for fuel.
(40) Elastic demand is characterized by a relatively flat demand curve, indicating a high responsiveness to price changes.
Elastic Demand meaningful sentence
(41) When the price of airline tickets increases, some travelers may choose to drive instead, illustrating elastic demand.
(42) A price elastic demand means that a small change in price leads to a proportionally larger change in quantity demanded.
(43) Elastic demand can lead to market instability, as small changes in supply or demand can result in large price fluctuations.
(44) When the price of movie tickets increases, some consumers may choose to wait for the DVD release, demonstrating elastic demand.
(45) Elastic demand can create challenges for businesses, as they need to carefully consider pricing strategies to maximize revenue.
(46) When the price of hotel rooms increases, some travelers may choose to stay with friends or family, demonstrating elastic demand.
(47) When the price of cigarettes increases, some smokers may choose to quit or reduce their consumption, illustrating elastic demand.
(48) A demand elasticity coefficient greater than 1 indicates elastic demand, while a coefficient less than 1 indicates inelastic demand.
(49) Elastic demand can create challenges for businesses in setting optimal pricing strategies to balance profitability and market share.
(50) Elastic demand can lead to price fluctuations in markets, as small changes in supply or demand can have a significant impact on prices.
(51) Elastic demand is influenced by consumer preferences and their willingness to adjust their consumption patterns based on price changes.
Elastic Demand meaning
Elastic demand is a term used in economics to describe the responsiveness of the quantity demanded of a good or service to changes in its price. When demand is elastic, a small change in price leads to a proportionally larger change in quantity demanded. In contrast, when demand is inelastic, a change in price has a relatively smaller impact on the quantity demanded. To effectively use the phrase "elastic demand" in a sentence, it is important to understand its meaning and context. Here are some tips on how to incorporate this term into your writing:
1. Define the term: Begin by providing a clear definition of elastic demand to ensure your readers understand the concept.
For example, "Elastic demand refers to a situation where the quantity demanded of a product or service is highly responsive to changes in its price."
2. Provide an example: Illustrate the concept of elastic demand by using a real-life example. This will help readers grasp the idea more easily. For instance, "When the price of gasoline increases by 10%, and as a result, the quantity demanded decreases by 20%, we can say that gasoline exhibits elastic demand."
3. Explain the factors influencing elastic demand: Elaborate on the factors that determine whether demand for a product or service is elastic or inelastic. These factors include the availability of substitutes, the necessity of the product, and the proportion of income spent on the item. For instance, "The demand for luxury goods tends to be more elastic as consumers have a wide range of substitutes available, while the demand for essential goods like food and medicine is often inelastic."
4. Discuss the implications of elastic demand: Explore the consequences of elastic demand for businesses and consumers.
For example, "For businesses, understanding the elasticity of demand is crucial in setting prices. If demand is elastic, a decrease in price can lead to a significant increase in sales volume. On the other hand, if demand is inelastic, businesses can increase prices without experiencing a substantial decline in demand."
5. Compare and contrast elastic and inelastic demand: Highlight the differences between elastic and inelastic demand to provide a comprehensive understanding of the concept. For instance, "Unlike elastic demand, inelastic demand occurs when changes in price have a minimal impact on the quantity demanded. This is often the case for products or services that are necessities or have limited substitutes."
6. Use the term in a broader economic context: Connect the concept of elastic demand to other economic principles or theories to demonstrate its relevance.
For example, "Elastic demand is closely related to price elasticity of demand, which measures the responsiveness of quantity demanded to changes in price. Understanding these concepts is essential for policymakers when implementing taxation or subsidy policies."
In conclusion, incorporating the phrase "elastic demand" into your writing requires a clear understanding of its meaning and context. By defining the term, providing examples, explaining influencing factors, discussing implications, comparing with inelastic demand, and connecting it to broader economic concepts, you can effectively use this term in a sentence and enhance your understanding of economics.
The word usage examples above have been gathered from various sources to reflect current and historical usage of the word Elastic Demand. They do not represent the opinions of TranslateEN.com.