Wiktionary(0.00 / 0 votes)Rate this definition: 1  upheaval(Noun) the process of being heaved upward, especially the raising of part of the earth's crust. 2  upheaval(Noun) a sudden violent upset, disruption or convulsion.
MicroEcon Test 2 Correct 1. The price elasticity of demand coefficient measures: A) buyer responsiveness to price changes. B) the extent to which a demand curve shifts as incomes change. C) the slope of the demand curve. D) how far business executives can stretch their fixed costs. Points Earned: 1.0/1.0 Correct Answer(s): A Correct 2.
Cross price elasticity of demand measures the responsiveness in the  quantity demand of one good when a change in price takes place in  another good. Whereas, income of dema â¦ nd responds to the sensitivity  of the quantity demanded for certain product in response to a  change in consumer goods.f the cross price elasticity is positive, then we call such goods Substitutes (example: pizza and burgers -- you usually consume either or). The income elasticity of demand measures the change in the quantity demanded of some good, when the income changes, holding everything else constant.