Question

Demand for electricity is _________.​

Answer 1

Explanation:

Summary: Demand for electricity consumption is relatively inelastic to price implying that there are few options available to the consumer in response to changes in the price of energy. Price elasticity is inelastic but is more elastic in the long-run than the short-run.

Short-run elasticity: -0.24

Long-run elasticity: -0.32

Coal and natural gas were the most used energy fuels for generating electricity. The world's electricity consumption was 18,608 TWh in 2012. ... In 2016 the total world energy came from 80% fossil fuels, 10% biofuels, 5% nuclear and 5% renewable (hydro, wind, solar, geothermal).

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Answer 2

Answer:

Electricity demand is measured in kilowatts (kw)