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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 ?
The spokeswoman added: "Our elastic bands are biodegradable, helping us to minimise our impact on the environment.
The most important finding of this study was that the Thera-Band resistance scale can be used to monitor intensity when elastic bands are used.
The real issue is that buying cheap and nasty elastic bands is more expensive for the taxpayer.
Isotonic exercises consist of muscle contractions against resistance with motion, such as pulling against elastic bands or tubing.
DANGER: The elastic bands which hold the doll into the box pose a strangulation threat to young children.
The insoles, which are designed for diabetic patients, use a unique combination of low friction materials and elastic bands to greatly decrease friction and pressure on the bottom of the foot.
Set of clothes sterile for sterile use by surgical personnel during surgical interventions, manipulations and procedures to prevent the spread of infectious agents between the patient and surgical staff in order to prevent postoperative complications and intra-hospital infections; for sterile use by surgical personnel during surgical interventions, manipulations and procedures to prevent the spread of pathogens of infectious diseases between the patient and surgical personnel in order to prevent postoperative complications and intrahospital infections, mask medical disposable non-sterile three-layer on wide flat elastic elastic bands.
A BIG payday is looming for a Wrexham mother who listed a dress made from 20,000 elastic bands on eBay.
YOUNGSTERS and staff at a school will spend a day "pinging" themselves with elastic bands - in support of a brave, young diabetes sufferer.
On July 18, Disgruntled Resident of Walton writes about the very same subject I did last year - elastic bands.
Jobless Luke Sargent-Fisher, 20, admitted stealing DVDs, computer games, toiletries and even elastic bands during a raid with his friend Andrew Thompson, 19.