The degree of responsiveness of demand to changes in the price of goods or produce is referred to as?

A. Relative Elasticity of demand
B. Unit Elasticity of demand
C. Price Elasticity of demand
D. Perfect Elastic demand

Correct Answer: Option C

C. Price Elasticity of demand

Explanation

Price Elasticity of demand is the degree of responsiveness of demand to changes in the price of goods or produce.