|
|
ELASTIC DEMAND: Relatively small changes in demand price cause relatively larger changes in quantity demanded. Elastic demand means that changes in the quantity demanded are relatively responsive to changes in the demand price. An elastic demand has a coefficient of elasticity greater than one (the negative value is ignored). You might want to compare elastic demand to inelastic demand, elastic supply, and inelastic supply.
Visit the GLOSS*arama
|
|
|
|
|
CONSUMER PRICE INDEX An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index (CPI) is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI is one of two key price indexes used as a measure of the price level and to estimate the inflation rate. The other is the GDP price deflator. The CPI is also officially designated as the Consumer Price Index for All Urban Consumers (CPI-U). Another noted price index is the Producer Price Index (PPI).
Complete Entry | Visit the WEB*pedia |
|
|
|
Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
|
|
|
"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
|
|
TI
Taxable Income
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
