The Price Elasticity of Demand for Staple Food

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Price Elasticity of Demand for Staple Food

Popis výsledku v původním jazyce

The aim of this paper is to prove a common assumption that the price elasticity of demand for staple food is inelastic. This inelasticity represents only a weak buyer reaction, reflected in a certain quantity of goods being demanded, in relation to the change in a selling price. Price elasticity is very often studied on the aggregate level. But the knowledge of price elasticity of demand is mostly important for the seller, even more so if he wants to encourage customers to buy more, through flyer campaigns. The data analysis is based on the calculation of the price elasticity of demand as arc price elasticity of food range on the sample offered over five-year period, from 2008 to 2012 in a shop that is a part of a Czech retail chain. Basically it is focused on the most mostly purchased item in the food range, which is bread. The analyzed sample represents 23 sorts of breads, together made up the total assortment of bread on offer in the shop. Despite the fact that the theory of price elasticity of demand is well known, a number of studies cited show that the real value of price elasticity of demand for individual items of food is limited. The results of such research, which form the theoretical background of this article, were compared with the computed values of price elasticity of demand in the studied sample.

Název v anglickém jazyce

The Price Elasticity of Demand for Staple Food

Popis výsledku anglicky

The aim of this paper is to prove a common assumption that the price elasticity of demand for staple food is inelastic. This inelasticity represents only a weak buyer reaction, reflected in a certain quantity of goods being demanded, in relation to the change in a selling price. Price elasticity is very often studied on the aggregate level. But the knowledge of price elasticity of demand is mostly important for the seller, even more so if he wants to encourage customers to buy more, through flyer campaigns. The data analysis is based on the calculation of the price elasticity of demand as arc price elasticity of food range on the sample offered over five-year period, from 2008 to 2012 in a shop that is a part of a Czech retail chain. Basically it is focused on the most mostly purchased item in the food range, which is bread. The analyzed sample represents 23 sorts of breads, together made up the total assortment of bread on offer in the shop. Despite the fact that the theory of price elasticity of demand is well known, a number of studies cited show that the real value of price elasticity of demand for individual items of food is limited. The results of such research, which form the theoretical background of this article, were compared with the computed values of price elasticity of demand in the studied sample.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50201 - Economic Theory

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Innovation Management and Sustainable Economic Competitive Advantage: From Regional Development to Global Growth

ISBN

978-0-9860419-5-2

ISSN

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e-ISSN

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Počet stran výsledku

8

Strana od-do

202-209

Název nakladatele

International Business Information Management Association (IBIMA)

Místo vydání

Madrid

Místo konání akce

Madrid

Datum konání akce

11. 11. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000366872700021