# Price Elasticity *"...a measure of how sensitive the quantity supplied or demanded is to its price"* ### Price Elasticity of Demand [Source](https://www.investopedia.com/ask/answers/012915/what-difference-between-inelasticity-and-elasticity-demand.asp): [[Investopedia]] (bleh) - Examples of **elastic** goods: Luxury items, certain food and beverages - Examples of **inelastic** goods: Prescription drugs, tobacco