Car-free movementThe car-free movement is a broad, informal, emergent network of individuals and organizations, including social activists, urban planners, transportation engineers, environmentalists and others, brought together by a shared belief that large and/or high-speed motorized vehicles (cars, trucks, tractor units, motorcycles, etc.) are too dominant in most modern cities.
Price elasticity of demandA good's price elasticity of demand (, PED) is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good, but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent increase in price, holding everything else constant. If the elasticity is −2, that means a one percent price rise leads to a two percent decline in quantity demanded.
Elasticity (economics)In economics, elasticity measures the responsiveness of one economic variable to a change in another. If the price elasticity of the demand of something is -2, a 10% increase in price causes the quantity demanded to fall by 20%. Elasticity in economics provides an understanding of changes in the behavior of the buyers and sellers with price changes. There are two types of elasticity for demand and supply, one is inelastic demand and supply and other one is elastic demand and supply.
