Source: Graphs by Justin Tapp
Measurement of change in quantity demanded which indicates the sensitivity of one variable to characteristics of another variable or income.
Demand that easily responds to the changes of other economic variables.
Demand that does not respond easily to the changes of other economic variables.
Demand for goods and services change significantly due to change in price, resulting in a horizontal line on the demand curve.
Demand for goods and services remains the same regardless of change in price, resulting in a vertical line on a demand curve.
Change in price proportionately changes the level of demand.