gracegaines42 gracegaines42

27-03-2018
Social Studies

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Which of the following statements BEST describes the relationship between demand for Board Blast, Inc. snowboards and sensitivity to price changes?

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amniotecardamom amniotecardamom

22-10-2018

The concept of elasticity measures the sensitivity of the consumer to changes in prices of the good, in this case, snowboarding.

When a demand is elastic, it means that when the price increases the consumption decreases drastically. When it is inelastic, it means that variations in price do not cause major impact on demand.

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