Price elasticity of demand

Japanese: 価格弾力性 - かかくだんりょくせい（英語表記）price elasticity of demand

To be precise, it is called the price elasticity of demand. It is the ratio of the rate of change in quantity demanded (magnitude of change in quantity demanded ÷ quantity demanded) divided by the rate of change in price (amount of change in price ÷ price). This value is usually negative, so it is considered in absolute terms. The relationship between price changes and changes in demand can be known by whether the absolute value of price elasticity of demand is greater than or less than 1, or 0. In other words, if it is greater than 1, it can be said that price changes have a relatively large impact on changes in demand, and if it is 0, it means that quantity demanded does not change at all in response to price changes, and we can know that the two are unrelated. The concept of elasticity can also be used for income other than price, in which case it is called income elasticity of demand.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

正確には需要の価格弾力性という。価格の変化率 (価格の変化金額÷価格) によって需要量の変化率 (需要量の変動の大きさ÷需要量) を除した比率。この値は通常マイナスの値をとるので絶対値で考える。需要の価格弾力性の絶対値が1より大きいか，小さいか，あるいは0であるかによって価格変化と需要の変化の関係を知ることができる。すなわちそれが1よりも大きいならば，価格変化は需要の変化に対して相対的に大きな影響を与えるといえるし，それが0ならば価格の変化に対して需要量がまったく変化しないことを意味し，両者が無関係であることを知ることができる。なお弾力性の概念は価格以外の所得に対しても用いられ，その場合は需要の所得弾力性と呼ばれる。

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