Advertising elasticity of demand

Advertising elasticity of demand,

Definition of Advertising elasticity of demand:

  1. The degree to which demand for a good or service will vary with its price. Typically, sales go up with a drop in price and sales go down when prices rise. As a general rule, non-essential items show elasticity of demand and most necessary items such as food and basic clothing will show an inelasticity of demand, meaning that they do not sell significantly more or less with changes in price.

Meaning of Advertising elasticity of demand & Advertising elasticity of demand Definition