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Elasticity of demand for imports |
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Elasticity of demand for importsThis is normally the price elasticity of demand for imports of a country, either for a single industry or for the aggregate of all imports. The latter plays a critical role in determining how the country's balance of trade responds to the exchange rate. See Marshall-Lerner condition.Similar MatchesIncome elasticityIncome elasticityNormally the income elasticity of demand; that is, the elasticity of demand with respect to income. Import demand elasticityImport demand elasticityThe elasticity of demand for imports with respect to price. Constant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Elasticity of substitutionElasticity of substitutionThe elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). With competitive demands, this is also the elasticity with respect to their price ratio. For example, with factors L,K and factor prices w,r, the elasticity of substitution of a production function F(K,L) is s = (wL/rK)d(K/L)/d(w/r). Price elasticityPrice elasticityThe elasticity of supply or demand with respect to price. Further SuggestionsCross elasticityElasticity Armington elasticity Import elasticity Elasticity of demand for exports Demand elasticity Point elasticity Arc elasticity Supply elasticity |
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