Final answer:
When economists say that the demand for a good is highly elastic, it means that a small percentage change in price will result in a large change in quantity demanded.
Step-by-step explanation:
When economists say that the demand for a good is highly elastic, it means that a small percentage change in price will result in a large change in quantity demanded. This indicates that the demand is very sensitive to price changes. For example, if the price of a product increases by 5%, the quantity demanded might decrease by 10%.