elastic


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Related to elastic: elastic modulus, elastic collision, elastic energy

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 classic literature ?
Then he saw beneath a thick clump of linden-trees, which were nearly divested of foliage, Madame de Villefort sitting with a book in her hand, the perusal of which she frequently interrupted to smile upon her son, or to throw back his elastic ball, which he obstinately threw from the drawing-room into the garden.
The thrill of his enthusiasm made him walk with an elastic step.
An hour's repose had snatched, from his elastic frame, the weariness with which many hours of toil had burdened it.
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.
She ascended the road which has been so often mentioned in our narrative, with an elastic and firm step, fearful that the delay in the store of Mr.
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.
Exertion and action were as natural to him as respiration; a more completely healthy mortal had never trod the elastic soil of the West.
Air's a perfectly elastic fluid," roars George above the tumult.