cross price elasticity

简明释义

交叉价格弹性

英英释义

例句

1.Understanding the cross price elasticity 交叉价格弹性 of related goods can help businesses set competitive prices.

理解相关商品的交叉价格弹性 交叉价格弹性 可以帮助企业设定具有竞争力的价格。

2.A high cross price elasticity 交叉价格弹性 suggests that consumers will switch from one product to another when prices change.

高交叉价格弹性 交叉价格弹性 表明消费者在价格变化时会从一种产品转向另一种产品。

3.If the cross price elasticity 交叉价格弹性 between two products is positive, they are considered substitutes.

如果两个产品之间的交叉价格弹性 交叉价格弹性 是正值，它们被视为替代品。

4.The cross price elasticity 交叉价格弹性 of coffee and tea indicates how a change in the price of coffee affects the demand for tea.

咖啡和茶的交叉价格弹性 交叉价格弹性 表示咖啡价格的变化如何影响茶的需求。

5.The cross price elasticity 交叉价格弹性 of butter and margarine is often studied to analyze consumer behavior.

黄油和人造黄油的交叉价格弹性 交叉价格弹性 常常被研究以分析消费者行为。

作文

Understanding the concept of cross price elasticity is essential for both economists and business professionals. This economic term refers to the responsiveness of the quantity demanded for one good when the price of another good changes. More specifically, it measures how the demand for a product is affected by the price fluctuations of a related product. The relationship can be categorized into two types: substitutes and complements. When two goods are substitutes, an increase in the price of one good will lead to an increase in the quantity demanded of the other good. For example, if the price of coffee rises significantly, consumers may turn to tea as an alternative, demonstrating a positive cross price elasticity. Conversely, when two goods are complements, such as printers and ink cartridges, an increase in the price of one will result in a decrease in the quantity demanded of the other. In this case, if the price of printers increases, fewer people will buy printers, leading to a decrease in the demand for ink cartridges, indicating a negative cross price elasticity.To illustrate this concept further, let’s consider the market for smartphones and smartphone accessories. If the price of smartphones decreases, we would expect the demand for accessories like cases and chargers to increase. This scenario highlights the positive cross price elasticity between smartphones and their accessories. Consumers are likely to purchase more accessories when they perceive smartphones as more affordable. On the other hand, if the price of a specific accessory rises, we might see a decline in smartphone sales, especially if that accessory is viewed as essential. This situation would reflect a negative cross price elasticity, as the two products are interdependent.Moreover, understanding cross price elasticity helps businesses make informed pricing decisions. For instance, a company that produces a product that is a substitute for another might strategically lower its prices to capture market share when it notices a competitor raising their prices. Similarly, firms can analyze the cross price elasticity of their products to determine how price changes in complementary goods might impact their sales. This analysis is crucial for setting prices that maximize revenue while considering the competitive landscape.In conclusion, cross price elasticity is a fundamental concept in economics that provides insight into consumer behavior and market dynamics. By understanding how the demand for one product is affected by the price changes of another, businesses can develop strategies that enhance their competitive edge. Whether dealing with substitutes or complements, recognizing the implications of cross price elasticity allows firms to navigate pricing challenges effectively and respond to market trends with agility. Ultimately, mastering this concept is vital for anyone involved in economic analysis or business strategy, as it lays the groundwork for making sound financial decisions that align with consumer preferences and market conditions.

理解交叉价格弹性这一概念对于经济学家和商业专业人士来说至关重要。这个经济术语指的是当一种商品的价格变化时，另一种商品的需求量对其的敏感程度。更具体地说，它衡量一种产品的需求如何受到相关产品价格波动的影响。这种关系可以分为两种类型：替代品和互补品。当两种商品是替代品时，一种商品的价格上涨会导致另一种商品的需求量增加。例如，如果咖啡的价格显著上涨，消费者可能会转向茶作为替代品，这表明存在正的交叉价格弹性。相反，当两种商品是互补品时，例如打印机和墨盒，一种商品的价格上涨将导致另一种商品的需求量减少。在这种情况下，如果打印机的价格上涨，购买打印机的人会减少，从而导致墨盒的需求下降，表明存在负的交叉价格弹性。为了进一步说明这一概念，让我们考虑智能手机和智能手机配件的市场。如果智能手机的价格下降，我们可以预期配件如手机壳和充电器的需求会增加。这种情况突出了智能手机和其配件之间的正交叉价格弹性。当消费者认为智能手机更实惠时，他们更可能购买更多的配件。另一方面，如果某种特定配件的价格上涨，我们可能会看到智能手机销售的下降，特别是当该配件被视为必需品时。这种情况将反映出负的交叉价格弹性，因为这两种产品是相互依赖的。此外，理解交叉价格弹性有助于企业做出明智的定价决策。例如，生产某种替代品的公司可能会在注意到竞争对手提高价格时，战略性地降低其价格以获取市场份额。同样，企业可以分析其产品的交叉价格弹性，以确定互补商品的价格变化如何影响其销售。这种分析对于设定最大化收入的价格至关重要，同时考虑到竞争环境。总之，交叉价格弹性是经济学中的一个基本概念，为消费者行为和市场动态提供了洞察。通过理解一种产品的需求如何受到另一种产品价格变化的影响，企业可以制定增强竞争优势的战略。无论是处理替代品还是互补品，认识到交叉价格弹性的影响使公司能够有效应对定价挑战，并灵活响应市场趋势。最终，掌握这一概念对于任何参与经济分析或商业战略的人来说都是至关重要的，因为它为做出与消费者偏好和市场条件相一致的明智财务决策奠定了基础。