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The difference between demand and quantity demanded is in the definition of them. Demand is the amount of demand at all possible prices; while quantity demanded is the amount â¦ of demand at a particular price. 21 people found this useful. Answered.
It is the percentage change in quantity to the percentage change in price (% Change in Quantity / % Change in Price). Given the law of demand when price is increasing quantity demanded is decreasing, elasticityâs of demand must be negative. High absolute (ignoring the sign) values for elasticity (E>1) indicate that quantity demanded is very sensitive to price, while low absolute values of elasticity (E<1) suggest that the consumer is not sensitive and does not respond to price.