own price elasticity

简明释义

自价格弹性

英英释义

例句

1.Understanding the own price elasticity of your product can guide pricing strategies effectively.

理解您产品的own price elasticity可以有效指导定价策略。

2.A company might lower prices if they find their own price elasticity is high to boost sales.

如果公司发现其own price elasticity很高，可能会降价以促进销售。

3.The concept of own price elasticity helps businesses understand how a change in price affects their sales volume.

概念own price elasticity帮助企业理解价格变化如何影响销售量。

4.A product with high own price elasticity means that consumers are very responsive to price changes.

具有高own price elasticity的产品意味着消费者对价格变化非常敏感。

5.If the own price elasticity of demand is greater than one, it indicates elastic demand.

如果需求的own price elasticity大于1，则表示需求是富有弹性的。

作文

Understanding the concept of own price elasticity is crucial for both economists and business owners alike. Own price elasticity, or the responsiveness of the quantity demanded of a good to a change in its own price, plays a significant role in determining pricing strategies and forecasting revenue. When we talk about own price elasticity, we are essentially discussing how sensitive consumers are to price changes for a specific product. For instance, consider a scenario where the price of a popular beverage increases by 10%. If the quantity demanded decreases significantly, say by 20%, we can conclude that the own price elasticity of this beverage is -2. This negative value indicates that the demand for this product is elastic, meaning consumers are highly responsive to price changes. Conversely, if the same price increase led to only a 5% decrease in quantity demanded, the own price elasticity would be -0.5, indicating inelastic demand, where consumers are less sensitive to price changes. The implications of understanding own price elasticity extend beyond simple academic interest; they have real-world applications in setting prices for goods and services. For businesses, knowing the own price elasticity of their products allows them to make informed decisions. If a company identifies that its product has elastic demand, it might choose to keep prices stable or even lower them to increase overall sales volume. On the other hand, if the demand is inelastic, the company could raise prices without fear of losing significant sales, thus increasing revenue. Moreover, the own price elasticity is not static; it can change based on various factors such as consumer preferences, availability of substitutes, and market trends. For example, during economic downturns, consumers may become more price-sensitive, leading to an increase in the own price elasticity of many products. Understanding these dynamics is essential for businesses to adapt their strategies accordingly. Another important aspect of own price elasticity is its relationship with total revenue. The total revenue generated from sales can be affected by how elastic or inelastic the demand for a product is. In cases of elastic demand, lowering prices can lead to an increase in total revenue, while inelastic demand may allow for higher prices without a substantial loss in sales. This relationship is fundamental in maximizing profits and ensuring the sustainability of a business. In conclusion, the concept of own price elasticity is a vital tool in the arsenal of economic theory and business practice. By understanding and applying the principles of own price elasticity, businesses can better navigate the complexities of market dynamics, optimize pricing strategies, and ultimately enhance their profitability. As markets continue to evolve, the ability to analyze and respond to changes in own price elasticity will remain a key factor in achieving long-term success.

理解自身价格弹性的概念对经济学家和企业主来说都至关重要。自身价格弹性，即需求量对其自身价格变化的敏感程度，在确定定价策略和预测收入方面发挥着重要作用。当我们谈论自身价格弹性时，我们实际上是在讨论消费者对特定产品价格变化的敏感程度。例如，考虑一个场景，某种流行饮料的价格上涨了10%。如果需求量显著减少，比如减少了20%，我们可以得出结论，这种饮料的自身价格弹性为-2。这个负值表明该产品的需求是有弹性的，意味着消费者对价格变化非常敏感。相反，如果同样的价格上涨导致需求量仅减少5%，则自身价格弹性为-0.5，表明需求是无弹性的，消费者对价格变化的敏感度较低。理解自身价格弹性的意义不仅限于学术兴趣；它在设定商品和服务价格方面具有现实世界的应用。对于企业而言，了解其产品的自身价格弹性使他们能够做出明智的决策。如果公司发现其产品的需求是有弹性的，可能会选择保持价格稳定甚至降低价格，以增加整体销售量。另一方面，如果需求是无弹性的，公司可以提高价格，而不必担心失去大量销售，从而增加收入。此外，自身价格弹性并不是静态的；它可以根据消费者偏好、替代品的可用性和市场趋势等各种因素而变化。例如，在经济衰退期间，消费者可能会变得更加关注价格，从而导致许多产品的自身价格弹性上升。理解这些动态对于企业调整其战略至关重要。自身价格弹性的另一个重要方面是其与总收入的关系。销售产生的总收入可能会受到产品需求的弹性或无弹性的影响。在需求有弹性的情况下，降低价格可能会导致总收入增加，而无弹性需求则可能允许在不显著损失销售的情况下提高价格。这种关系对于最大化利润和确保企业的可持续性至关重要。总之，自身价格弹性的概念是经济理论和商业实践中一项重要工具。通过理解和应用自身价格弹性的原则，企业可以更好地应对市场动态的复杂性，优化定价策略，并最终提高盈利能力。随着市场的不断演变，分析和应对自身价格弹性变化的能力将继续成为实现长期成功的关键因素。