Marginal demand

Marginal demand in economics is the change in demand for a product or service in response to a specific change in its price.{{cite book |url=https://books.google.com/books?id=-renDwAAQBAJ&pg=PA43 |pages=43–44 |title=Advanced Calculus: Fundamentals of Mathematics |first=Carlos |last=Polanco |year=2019 |isbn=9789811415074 |publisher=Bentham Science Publishers}} Normally, as prices for goods or services rise, demand falls, and conversely, as prices for goods or services fall, demand rises. A product or service for which price changes cause a relatively big change in demand is said to have elastic demand. A product or service where price changes cause a relatively small change in demand is said to have inelastic demand.{{cite book |url=https://books.google.com/books?id=dDq3BAAAQBAJ&pg=PA241 |pages=241–242 |title=Calculus With Applications |first1=Peter D. |last1=Lax |first2=Maria Shea |last2=Terrell |year=2013 |isbn=9781461479468 |publisher=Springer New York}}