degree of elasticity

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• elasticity of substitution — elasˌticity of substiˈtution noun [uncountable] ECONOMICS the degree to which one input can be replaced by another. For example, in producing goods, if the cost of wages increases and the cost of machinery and capital used to pay for it stays the …   Financial and business terms

• elasticity — [ē΄las tis′ə tē, i las΄tis′ə tē] n. pl. elasticities 1. the quality or condition of being elastic; specif., a) springiness; flexibility; resilience b) buoyancy of spirit c) adaptability 2. Econ. the degree to which the demand for, or supply of,… …   English World dictionary

• elasticity of demand — The degree of buyers responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity indicates sensitivity of demand to price, e.g.,… …   Financial and business terms

• elasticity — [[t]i͟ːlæstɪ̱sɪti, ɪlæ̱st [/t]] elasticities 1) N UNCOUNT The elasticity of a material or substance is its ability to return to its original shape, size, and condition after it has been stretched. Daily facial exercises help her to retain the… …   English dictionary

• Elasticity — A measure of a variable s sensitivity to a change in another variable. In economics, elasticity refers the degree to which individuals (consumers/producers) change their demand/amount supplied in response to price or income changes. Calculated as …   Investment dictionary

• elasticity of supply — The degree of producers responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity indicates sensitivity of supply to price, e.g …   Financial and business terms

• elasticity — e|las|tic|i|ty [ˌi:læˈstısıti] n [U] 1.) the ability of something to stretch and go back to its usual length or size ▪ the skin s natural elasticity 2.) elasticity of demand technical the degree to which a change in the price of something leads… …   Dictionary of contemporary English

• elasticity — UK [ˌiːlæˈstɪsətɪ] / US [ɪlæˈstɪsətɪ] noun [uncountable] 1) physics the ability of a substance to stretch easily and then return to its original shape quickly the strength and elasticity of silk 2) the ability to change when the situation changes …   English dictionary

• Output elasticity — In economics, output elasticity is the percentage change of output (GDP or production of a single firm) divided by the percentage change of an input. It is sometimes called partial output elasticity to clarify that it refers to the change of only …   Wikipedia

• income elasticity of demand — ➔ elasticity of demand * * * income elasticity of demand UK US noun [U] ► ECONOMICS the degree to which the number of products bought changes when income changes: » In Japan, the income elasticity of demand for exports is far higher than for… …   Financial and business terms

• Modulus of elasticity — Modulus Mod u*lus, n.; pl. {Moduli}. [L., a small measure. See {Module}, n.] (Math., Mech., & Physics) A quantity or coefficient, or constant, which expresses the measure of some specified force, property, or quality, as of elasticity, strength,… …   The Collaborative International Dictionary of English