noun
elasticity of demand
Economic term measuring how quantity demanded responds to price changes.
需要の弾力性が高い商品は、価格が下がると需要が大きく増える。
For goods with high elasticity of demand, a price drop leads to a large increase in demand.
Elasticity of supply, measuring how quantity supplied responds to price changes.
Compound of 需要 (demand) + の (possessive particle) + 弾力性 (elasticity). The term is a direct translation of the English economic concept.