Question

is price elasticity of demand and elasticity of demand different?​

Answer 1

Answer:

Yes & No

Explanation:

Elasticity of Demand means the fluctuations/elastications in demand due to different factors like price, income, etc.

It is broad concept under which we've 3 types of elasticities of demand,

1. Price Elasticity of Demand,
2. Income Elasticity of Demand &
3. Cross Elasticity of Demand.

i.e. Change in Demand due to Change in Price, Change in Demand due to Change in Income, & so on.

Meaning, if a price of a product is increased, it's demand will reduce & vice-versa.

eg: The 2010 Onion Crisis in India.

Price Elasticity of Demand is calculated as:

$\ \binom{\% \: change \: in \: quantity \: demanded }{\% \: change \: in \: price}$

Income Elasticity of Demand is calculated as:

$\binom{\% \: change \: in \: quantity \: demanded}{\% \: change \: in \: income}$

Coming back to your question, technically, yes, Price Elasticity of Demand is different than Elasticity of Demand as Price Elasticity is only one type of Elasticities of Demand,

But, as Price Elasticity is the commonly known & the most frequently used Elasticities of Demand, the terms are sometimes casually interchanged.