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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.


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.


adj. relatively responsive to change.


References in periodicals archive ?
In the situation where elastic deformation coexists with plastic deformation, the regions experiencing elastic deformation (call the deformation structural element, DSE) obeys Hooke's law.
Furthermore, springback was larger at high rolling temperatures because of the increased proportion of elastic deformation.
With this in mind, it is possible to assume that the stresses within the contact area - except in a very narrow pressure zone caused by the tip of the clamping element - do not significantly exceed the elastic deformation boundary, which is one of the basic assumptions of the previously proposed theoretical model.
This is a possible scheme, as numerical experiments showed that the results in Figure 9 for purely elastic deformation are very weakly dependent on the explicit values of the elastic material constants (indeed, the curves in Figure 9 are independent of the modulus of elasticity).
A clear upper yield point follows the elastic deformation at the beginning of the test.
Finite elastic deformations of transversely isotropic circular cylindrical tubes, Int.
In the present theoretical development, the orbiting thrust plate with elastic deformation is represented by a rigid, fixed thrust plate with an equivalent geometrical wedge at its periphery.
The fourth stage is final deformation, elastic deformation caused by impact load will return.
Mechanical behavior of materials is then discussed in depth, covering elastic deformation, viscoelasticity and time-dependent behavior, multiaxial loading and complex stress states, yielding and failure theories, and fracture mechanics.
It begins with an introduction to basic solid mechanisms, including discussion of what holds a solid together, stress and strain, elastic deformation, plastic deformation, and strength resilience.
s] is the surface elastic modulus describing the elastic deformation of the surface, and the superscript s denotes the intrinsic property of the surface.
At 20[degrees]C, either the elastic modulus of latex particles was high enough (19-21) to resist further elastic deformation by van der Waals force, or the viscosity-like modulus of elastoviscous or viscoelastic response was high enough to prevent appreciable creep under the van der Waals force, or perhaps both.