Examlex
The current flow of a action potential fades quickly.
Demand Elastic
Refers to how sensitive the quantity demanded of a good is to a change in its price; high elasticity indicates consumers will significantly alter their demand in response to price changes.
Price Effect
The impact on the quantity demanded of a good or service resulting from a change in its price, holding all other factors constant.
Quantity Effect
The change in quantity demanded or supplied of a good or service due to a change in its price.
Price-elastic Demand
A situation where the quantity demanded of a good or service significantly changes in response to changes in its price.
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