price elasticity

The price elasticity of demand for luxury goods is typically high, meaning consumers are sensitive to price changes.奢侈品的需求价格弹性通常很高，这意味着消费者对价格变动很敏感。

Essential utilities such as water supply tend to have low price elasticity of demand.诸如供水等基本公用事业的需求价格弹性往往较低。