The process by which goods and services fluctuate due to increases and decreases on their demand and price
Answer
5
(1 star)
0
Answer:Elasticity is an economic concept used to measure the change in the aggregate quantity demanded of a good or service in relation to price movements of that good or service. A product is considered to be elastic if the quantity demand of the product changes more than proportionally when its price increases or decreases.
Explanation: