Core Concept: What Is Price Elasticity of Demand And Supply? | Ep. 465
- Author
- Opes Partners
- Published
- Sat 19 Dec 2020
- Episode Link
- https://podcasters.spotify.com/pod/show/propertyacademy/episodes/Core-Concept-What-Is-Price-Elasticity-of-Demand-And-Supply---Ep--465-eo0iji
In this episode, we discuss price elasticity of demand and supply ... what they are ... and what they mean for property investors in New Zealand.
Price elasticity is a measure of how responsive quantity is to a change in price. The amount of a good that is purchased can either change a lot or a little in response to a change in price ... and understanding price elasticity helps us to predict how prices will change in the future.
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