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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 classic literature ?
An Indian, of an active elastic form, leaped into a light canoe of cotton-wood, and vigorously plying the paddle, soon shot across the river.
The windows were raised, and the balmy air of a June morning played through the apartment, lending in reality an elastic vigour to the decaying organs of the sick youth.
He treads the earth with a very elastic step as he walks away from her, and makes light of all difficulties.
I had only time to make these general observations when Madame Pelet, coming forward with what she intended should be a graceful and elastic step, thus accosted me:-
The principal fibre traversing its length being split open a convenient distance, and the elastic sides of the aperture pressed apart, the head is inserted between them, the leaf drooping on one side, with its forward half turned jauntily up on the brows, and the remaining part spreading laterally behind the ears.
He was about forty years of age, six feet two inches high, straight as an Indian; with an elastic step as if he trod on springs, and a handsome, open, manly countenance.
And again the boat appeared and the Fay, but about the attitude of the latter there was more of care and uncertainty and less of elastic joy.
She was recognizing how light was the touch of events the most oppressive upon Mrs Durbeyfield's elastic spirit.
Reggie didn't object to her visitors' suddenly changing their minds, and that there was always a room to spare in her elastic house.
Except for the clanking of accouterments and the occasional squeal of an angry thoat or the low guttural of a zitidar, the passage of the cavalcade was almost noiseless, for neither thoat nor zitidar is a hoofed animal, and the broad tires of the chariots are of an elastic composition, which gives forth no sound.
The car, which was of a circular form and fifteen feet in diameter, was made of wicker-work, strengthened with a slight covering of iron, and protected below by a system of elastic springs, to deaden the shock of collision.
When it is impossible to stretch the very elastic threads of historical ratiocination any farther, when actions are clearly contrary to all that humanity calls right or even just, the historians produce a saving conception of "greatness.