Elasticity
measure of responsiveness of Qs/Qd to change in one of its determinants
Price Elasticity of Demand measure Quantity demand, Qd due to change in price, P
Degree of Price Elasticity Demand
Income Elasticity of demand
measure responsiveness of change in Quantity demand due to change of income.
Cross Price Elasticity of demand
the degree of responsiveness of Quantity demanded of goods A to change in price of goods B
