English: cross-price elasticity

Part of speech

Noun, Masculine, Singular

Definition

When different beverages are considered (e.g., beer, wine, sprits), the elasticities can be classified as own- and cross-price elasticities, with own-price elasticities indicating the percentage change in the demand for one type of alcohol due to a 1% change in the price of this type of alcohol, and cross-price elasticities indicating the percentage change in demand for one type of alcohol due to a 1% change in the price of another type of alcohol.

Context

Mae trawselastigedd pris (XED) yn mesur canran y newid mewn galw am un nwydd sy’n digwydd fel ymateb i newid canran i bris nwydd arall. Os yw’r XED rhwng dau gynnyrch alcohol yn uchel, byddai defnyddwyr yn newid yn ddidrafferth i ddewis arall pe bai pris un cynnyrch yn cynyddu.