The continental shelf is an underwater landmass which extends from a continent, resulting in an area of relatively shallow water known as a shelf sea.Much of the shelves were exposed during glacial periods and interglacial periods.The shelf surrounding an island is known as an insular shelf.The continental margin, between the continental shelf and the abyssal plain, comprises a steep continental slope followed by the flatter continental rise.Sediment from the continent above cascades down the slope and accumulates as a pile of sediment at the base of the slope, called the continental rise.he shelf surrounding an island is known as an insular shelf. The continental margin, between the continental shelf and the abyssal plain, comprises a steep continental slope followed by the flatter continental rise.
Price elasticity is a measure of the responsiveness of demand or supply of a good or service to changes in price. The price elasticity of demand measures the ratio of the proportionate change in quantity demanded to the proportionate change of the price . The price elasticity of supply is analogous.
Price Elasticity of Demand. An important aspect of a product's demand curve is how much the quantity demanded changes when the price changes. The economic measure of this response is the price elasticity of demand. Price elasticity of demand is calculated by dividing the proportionate change in quantity demanded by the proportionate change in price. Proportionate (or percentage) changes are used so that the elasticity is a unit-less value and does not depend on the types of measures used (e.g. kilograms, pounds, etc).