A measure of sensitivity or responsiveness to changes in price or income is called:
A) elasticity.
B) technology.
C) supply and demand.
D) social pressure.
E) kickback.

Name: A measure of sensitivity or responsiveness to changes in price or income is called: A) elasticity. B) technology. C) supply and demand. D) social pressure. E) kickback.
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Question

Quizplus · Accepted Answer

The measure described in the question is elasticity. Elasticity refers to the degree to which demand or supply responds to changes in price or income.

A Measure of Sensitivity or Responsiveness to Changes in Price