← review terms and concepts Export Options Alphabetize Word-Def Delimiter Tab Comma Custom Def-Word Delimiter New Line Semicolon Custom Data Copy and paste the text below. It is read-only. Select All elasticty of supply it is about measuring the response of quantity of a good supplied to a change the price of a particular good. elasticity of labor supply it is about measuring the response of labor supplied to a change in a price labor. inelastic demand it is about elasticity that measures the nature and degree of the relationship between changes in quantity demanded of a good and changes in its price. income elasticity of demand it is about measuring the responsiveness of the quantity demanded of a good to the change in the income of the people demanding the good.