from The American Heritage® Dictionary of the English Language, 4th Edition
- n. The condition or property of being elastic; flexibility.
- n. Physics The property of returning to an initial form or state following deformation.
- n. Physics The degree to which this property is exhibited.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. The property by virtue of which a material deformed under the load can regain its original dimensions when unloaded
- n. The sensitivity of changes in a quantity with respect to changes in another quantity.
- n. The quality of being elastic.
- n. Adaptability.
from the GNU version of the Collaborative International Dictionary of English
- n. The quality of being elastic; the inherent property in bodies by which they recover their former figure or dimensions, after the removal of external pressure or altering force; springiness; resilience; tendency to rebound
- n. Power of resistance to, or recovery from, depression or overwork; -- usually referred to as resilience.
from The Century Dictionary and Cyclopedia
- n. The property of being elastic, in any sense; especially, that physical force resident in the smallest sensible parts of bodies, by virtue of which the holding of them in a state of strain (change of size or shape) involves work, which for small strains is proportional to the square of the amount of the strain. There are different kinds of elasticity, corresponding to the different kinds of strain.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. the tendency of a body to return to its original shape after it has been stretched or compressed
Sorry, no etymologies found.
Further, he points out that respondents were using demand signals, though the term elasticity might not have been used.
The elasticity is surely affected by the velocity (pardon the pun) of gas price increases.
The more common substitute and better measure of elasticity is the amount of gasoline actually used.
The age-adjusted intergenerational wealth elasticity is 0.37.
And if the charges are not billed on a continual basis, there are no price signals, and the price elasticity is much weaker, so the idea that you charge this with auto registration is absurd.
This suggests price elasticity is inversely related to sales volume, for me.
Pretinieks writes: it might rather depend on relative, not absolute popularity. if your book generates more media buzz than your previous one, a lot of prospective buyers are "first-time users" and haven't heard of you before. where there's no "brand loyalty", price elasticity is higher. to test this, you'll need to write another book of roughly the same popularity.
And with commodities, the short-term elasticity of demand is low, so typically, only a massive price shift can induce even a small change in demand.
That said, it seems to me that there has been a sustained run-up in average fuel costs in the last 7-8 years, and I would be interested in knowing whether that had any impact on utilization or whether the long-term empirical elasticity is as poor as the (presumably) short-term 10%-1% ratio.
Even if the price elasticity is that low, because the price of gasoline fluctuates over such a large range that high prices do effectively limit demand.