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ELASTICITY ALTERNATIVES: Five categories of elasticity that form a continuum indicating the relatively responsiveness of a change in one variable (usually quantity demanded or quantity supplied) to a change in another variable (usually demand price or supply price). These five alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic--are most often are used to categorize the price elasticity of demand and the price elasticity of supply.
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ELASTICITY AND SUPPLY INTERCEPT The intersection of a straight-line supply curve with vertical price axis and/or horizontal quantity axis reveals the relative price elasticity of supply. Intersection with the horizontal quantity axis means inelastic and intersection with the vertical price axis means elastic. Intersection with the origin means unit elastic supply.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for fairy dust that tastes like salt.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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KLCE
Kuala Lumpur Commodity Exchange (Malaysia)
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