Elastic

 

 

 

Elastic

 

Glossary of business

 

Definition of elastic

 

Elastic means that a good is responsive to a change in another variable. For example, if a good is 'price elastic' then it will be responsive to a change in price and the percentage change in demand for the good will be greater than the percentage change in price that caused it. Firms selling elastic goods may aim to cut prices as much as possible as this will help increase revenue.

 

Source : http://business-tes.wikispaces.com/file/view/Glossary.doc

link: http://business-tes.wikispaces.com/

Author : not indicated on the source document of the above text

 

Terminology about business

 

Job world

 

 

Definition and meaning of elastic

 

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Meaning of elastic

 

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What does elastic mean ?

 

 

 

 

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