The percentage change in quantity demanded divided by the percentage change in price.
In economics, demand refers to the total amount of goods or services demanded by consumers over a period of time. The quantity demanded depends on the price of the goods or services in the market. Demand refers to the number of goods a buyer is willing to purchase at a particular price. The amount demanded will change depending on the increase or decrease in demand from buyers. The same is represented by the slope of the demand curve. Demand is the quantity of goods or services that consumers are willing to purchase at a given price over a given period of time. Quantity demanded is the amount of goods or services that people buy at a particular price at a particular time.
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