Price Elasticity

+**Price Elasticity**

+Price elasticity measures how much the [Quantity Demanded](/wiki/quantity_demanded) or [Quantity Supplied](/wiki/quantity_supplied) of a good changes in response to a shift in its price. It reveals the sensitivity of consumer or producer behavior to price fluctuations, offering insight into [Market](/wiki/market) dynamics and [Economics](/wiki/economics).

+## See also

+- [Demand](/wiki/demand)

+- [Supply](/wiki/supply)