Cross elasticity of demand is the change in the quantity demanded of one product or service impacting the change in demand for another product or service.
For more on defining your market and target customers, check out How to Do Market Research, Market Research Resources for Entrepreneurs, and How to Define Your Target Market.
At Bplans, it's our goal to make it easy for you to start and run your business. The Bplans glossary of common business terms will help you learn about key small business and entrepreneurship topics.
