|
|
INCOME ELASTICITY OF DEMAND: The relative response of a change in demand to a relative change in income. More specifically the income elasticity of demand can be defined as the percentage change in demand due to a percentage change in buyers' income. The income elasticity of demand quantitatively identifies the theoretical relationship between income and demand.
Visit the GLOSS*arama
|
|
|
|
                          
INELASTIC: In general, if changes in variable A cause changes in variable B, then the relative change in B is less than the relative change in A. In other words, large changes in variable A cause relatively smaller changes in variable B. An inelastic relationship between two variables is not a very responsive, or stretchable, relationship. You should compare inelastic with elastic. See also | elasticity | elastic | relatively inelastic | perfectly inelastic | relatively elastic | unit elastic | perfectly elastic | demand price | supply price | quantity demanded | quantity supplied | inelastic demand | inelastic supply |
Recommended Citation:INELASTIC, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: March 24, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: inelastic
Search Again?
Back to the GLOSS*arama
|
|
|
MARKET The organized exchange of commodities (goods, services, or resources) between buyers and sellers within a specific geographic area and during a given period of time. Markets are the exchange between buyers who want a good (the demand-side of the market) and the sellers who have it (the supply-side of the market).
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for poorly written technical manuals.
Your Complete Scope
This isn't me! What am I?
|
|
|
The average bank teller loses about $250 every year.
|
|
|
"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
|
|
FASB
Financial Accounting Standards Board
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
