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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 ?
She said: "When they tie elastic bands around their tails it basically cuts off the blood until the tail dies and drops off.
The folio can convert into a stand for landscape viewing while an elastic band securely holds the front cover closed when the tablet is not in use.
Aside from its elastic bands, Doorguard[TM] has also received recognition for being environmentally-friendly.
5 Inches by 7 inches, a hardback binding, an elastic band place holder, and an inside back cover pocket capable of holding receipts, tickets, postcards, etc.
A DRUG dealer stopped by police was found to have a mobile phone attached to his penis with an elastic band.
To ensure your flag doesn't fly off, sew a few stitches as close as you can to the rod or an elastic band wrapped at the bottom or top of the flag.
LYON, France, February 16, 2010 /PRNewswire/ -- Bluestar Silicones is launching a new line of TCS 7560 and TCS 7561 Silbione(R) products designed for the elastic band market for lingerie and medical applications (support stockings and medical equipment).
The men's jacket -- the "Adi-Jacket" -- has a modern, stylish touch with the "3-Stripes" band on the sleeves and elastic band on the neck and waist.
Featuring the "3-Stripes" band on the sleeves and elastic band on the neck and waist, the jacket is perfect for those who are looking for a contemporary classic in the making.
To stop the toilet roll unravelling in transit, put an elastic band around the roll.
The new bras, which have recently been handed to front-line female German police officers, come with the word C[pounds sterling]policeC[yen] in capital letters emblazoned around the elastic band.