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Elasticity of Demand

The relative stability of a security's or product's price in the face of increased or decreased demand. Elastic securities or products have prices that move as independently as possible from changes in demand. In securities, elasticity is strongly influenced by the number of shares outstanding; if a company has many shares outstanding, a large order to buy or sell them is less likely to affect the price as strongly as a similar order for a company with comparatively few shares outstanding. In other products, elasticity largely comes from whether a given product is considered a necessity or a luxury. A "necessary" product is likely to be more elastic. See also: Income Elasticity of Demand.

elastic

Of or relating to the demand for a good or service when the quantity purchased varies significantly in response to price changes in the good or service. For example, the demand for a product with many close substitutes is elastic because a small price rise will cause consumers to switch to competing brands. Compare inelastic.

elastic

adj. relatively responsive to change.

See PRICE-ELASTICITY OF DEMAND, PRICE-ELASTICITY OF SUPPLY, INCOME-ELASTICITY OF DEMAND, CROSS-ELASTICITY OF DEMAND.

References in periodicals archive ?
One source said it is unclear how the dogs' tails were docked but the usual technique is to either just cut them off or tie a very tight elastic band around the tail soon after birth and allow them to drop off after several days.
Aside from its elastic bands, Doorguard[TM] has also received recognition for being environmentally-friendly.
Thousands of children have become hooked on the loom band craze, making bracelets, necklaces and trinkets out of small coloured elastic bands.
The innovative external elastic bands wrap around the heel acting like a stretchy sling-back to lock the heel in place.
1845: Elastic bands were patented by Stephen Perry at a firm of vulcanised rubber manufacturers in England.
Elastic bands pull at your hair so never use them to secure a ponytail.
A NATIONAL construction firm has been building links with a Teesside college - using wooden sticks and elastic bands.
The exhibition was created by the museum alongside Hi-Cone and is a celebration of designs displaying the highest levels of functionality and utility; from teabags to plastic multipack ring carriers, elastic bands to paper clips, and other products we cannot live without.
Dorothy Simpson, Mile End, East London RATHER than just throwing out old rubber gloves, cut strips from the cuffs to make very useful and tough elastic bands.
Elastic bands Wrap the elastic bands randomly around your egg and dip into food dye, wait until dry and remove the bands.
For more than twenty years, self-fixing stockings have applied transparent silicone technology, which is adhesive and "anti-slip" for elastic bands and lace: stockings and socks stay up
A High ponytails and hair up may well be in fashion, but torturing your hair with elastic bands and metal is never in vogue.