Marginal demand in economics is the change in demand for a product or service in response to a specific change in its price. Normally, as prices for goods or services rise, demand falls, and conversely, as prices for goods or services fall, demand rises. A product or service for which price changes cause a relatively big change in demand is said to have elastic demand. A product or service where price changes cause a relatively small change in demand is said to have inelastic demand.
Property | Value |
---|---|
dbo:abstract |
|
dbo:wikiPageID |
|
dbo:wikiPageLength |
|
dbo:wikiPageRevisionID |
|
dbo:wikiPageWikiLink | |
dbp:wikiPageUsesTemplate | |
dcterms:subject | |
gold:hypernym | |
rdf:type | |
rdfs:comment |
|
rdfs:label |
|
owl:sameAs | |
prov:wasDerivedFrom | |
foaf:isPrimaryTopicOf | |
is dbo:wikiPageDisambiguates of | |
is dbo:wikiPageWikiLink of | |
is foaf:primaryTopic of |