Elasticity

From ACT Wiki
Revision as of 09:08, 8 April 2021 by imported>Doug Williamson (Add category.)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigationJump to search

1. Variance.

The degree of responsiveness in one variable to changes in another variable.


2. Economics.

Typically a percentage change in quantity compared to a percentage change in price.

Commonly used to describe price elasticity of demand and price elasticity of supply.


See also

Retrieved from ‘https://wiki.treasurers.org/w/index.php?title=Elasticity&oldid=17431’