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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 total energy from an earthquake includes energy required to create new cracks in rock, energy dissipated as heat through friction, and energy elastically radiated through the earth," reports the U.
2004) assume that the volume of the material of the fastened parts that is elastically deformed is extended over the so-called pressure cones (Fig.
At this point the fluid was observed to recoil elastically, like a rubber band
It was, however, a matter of time and when Drogba elastically stretched out a leg to bring down Nicolas Anelka's crossfield pass and instantly played the perfect ball along the six-yard line, Kalou's diving header was clinical.
Efforts to build precision mechanisms based on elastically deformed frames, elastically hinged structures with the features of mechanical advantages (displacement amplification) results in promising structures for precision engineering [4].
The essential components of Magrelli's distinctive voice are a minimalist's ironic wit coupled with a gift for deftly breaking down the ordinary in order to elastically reassemble and transform it into something newly mysterious and strange.
Of the others, soprano Celena Shafer found a distinctive, elegant voice for each of her high-flying roles, and Canadian-American tenor Philippe Castagner, as Teapot, Tree Frog and Arithmetic, proved as elastically enjoyable as a character tenor as he is in more conventional lyric roles.
It has developed a patented a method of engineering for oil and gas field wellheads and connectors, POS-GRIP, which involves elastically deforming one tubular member against another to effect gripping and sealing.
When the corer penetrates the seabed, the lines recoil elastically, jerking an internal piston within the corer.
On planets like Mars and earth that have an outer shell, or lithosphere, that behaves elastically, the solid surface will deform differently than the sea surface, creating a non-uniform change in topography," said study leader Dr Taylor Perron, from Harvard University in the US.
So far, the Texas experiments indicate that the new ball bounces less elastically, veers more when it bounces, and becomes more slippery when damp than does the official leather ball of the past 35 years.
In general, higher molecular weight polymers are less hysteretic because there are fewer elastically ineffective chain ends (refs.