elastic supply
1elastic supply — /ɪˌlæstɪk sə plaɪ/ noun supply which experiences a comparatively large percentage change in response to a change in price …
2Elastic — may refer to:*Elastic collision, a term describing collisions in which kinetic energy is conserved *Elastic deformations, a term describing reversible deformations of materials *Elastic, a colloquial noun for certain kinds of elastomers and… …
3elastic — [ē las′tik, ilas′tik] adj. [ModL elasticus < LGr elastikos < Gr elaunein, to set in motion, beat out < IE base * el , to drive, move, go > ? LANE1] 1. able to spring back to its original size, shape, or position after being stretched …
4supply and demand — Relationship between the quantity of a commodity that producers have available for sale and the quantity that consumers are willing and able to buy. Demand depends on the price of the commodity, the prices of related commodities, and consumers… …
5elastic — I UK [ɪˈlæstɪk] / US noun [uncountable] Word forms elastic : singular elastic plural elastics a material that stretches easily and can return to its original shape quickly. Elastic is often sewn into clothes to allow them to stretch. II UK… …
6Supply and demand — For other uses, see Supply and demand (disambiguation). The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a… …
7Elastic — A situation in which the supply and demand for a good or service can vary significantly due to the price. The elasticity of a good or service can vary according to the amount of close substitutes, its relative cost and the amount of time that has …
8elastic — [ɪ lastɪk] adjective 1》 able to resume normal shape spontaneously after being stretched or squeezed. 2》 flexible and adaptable: the definition is elastic. ↘Economics (of demand or supply) sensitive to changes in price or income. 3》 Physics… …
9Price elasticity of supply — In economics, the price elasticity of supply is defined as a numerical measure of the responsiveness of the quantity supplied of product (A) to a change in price of product (A) alone. :E s = frac{% mbox{change in quantity supplied{% mbox{change… …
10Tax incidence — In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to fall upon the group that, at the end of the day, bears the burden of the tax. The key concept is that… …
