elasticity of supply
1elasticity of supply — The degree of producers responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity indicates sensitivity of supply to price, e.g …
2Price 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… …
3Elasticity — may refer to:*Elasticity (physics), continuum mechanics of bodies which deform reversibly under stressVarious uses are derived from this physical sense of the term, especially in economics:*Elasticity (economics), a general term for a ratio of… …
4Elasticity (economics) — Economics …
5elasticity — /ˌɪlæ stɪsəti/ noun the ability to change easily in response to a change in circumstances ♦ elasticity of supply and demand changes in supply and demand of an item depending on its market price …
6elasticity — /ˌɪlæ stɪsɪti/ noun the ability to change easily in response to a change in circumstances ♦ elasticity of supply and demand changes in supply and demand of an item depending on its market price …
7Supply-side economics — is an arguably heterodox school of macroeconomic thought that argues that economic growth can be most effectively created using incentives for people to produce (supply) goods and services, such as adjusting income tax and capital gains tax rates …
8elasticity — [ē΄las tis′ə tē, i las΄tis′ə tē] n. pl. elasticities 1. the quality or condition of being elastic; specif., a) springiness; flexibility; resilience b) buoyancy of spirit c) adaptability 2. Econ. the degree to which the demand for, or supply of,… …
9supply 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… …
10Supply 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… …
