A measure of the effect of a price change or a change in the quantity supplied on the demand for a product or service.
〔经济〕价格弹性（测量价格变化或供应量变化对产品或服务需求影响的一种方法）
Example sentencesExamples
On the demand side, agricultural products have a very low price elasticity.
If the company assumes that price elasticity of demand is close to perfectly inelastic, it can charge what it likes.
For instance, when you're selling spare parts one at a time, there's a lot of price elasticity there; customers need these parts right away if their machines are down.
Look for services with high fixed costs, price elasticity - meaning that consumers will typically buy more if prices drop - and the ability to be ordered over the Internet.
The telecommunications sector exhibits strong price elasticity of demand.