elasticity
responsiveness of one economic variable to a change in another (e.g. supply or demand as a function of changed price, cross-price, income, wealth, advertising, etc.), ranging from inelastic to elastic
advertising elasticity of demand
responsiveness to advertising change in a market
cross elasticity of demand
responsiveness in the quantity demand of one good when a change in price takes place in another good
income elasticity of demand
responsiveness of demand for goods with respect to income change
price elasticity of supply
responsiveness of the quantity supplied of a good or service to a change in its price
price elasticity of demand
responsiveness of the quantity demanded of a good or service to a change in its price
wage elasticity of supply
responsiveness of amount of labor supplied due to change in wages
Frisch elasticity of labor supply
responsiveness of hours worked to the wage rate
wealth elasticity of demand
responsiveness in the consumption of a good to a change in a consumers' wealth