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RELATIVELY INELASTIC: An elasticity alternative in which relatively large changes in price cause relatively small changes in quantity. In other words, quantity is not very responsive to price. Relatively inelastic should be compared with other elasticity alternatives--relatively elastic, perfectly inelastic, perfectly elastic, and unit elastic.
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DEMAND AND SUPPLY DECREASE A simultaneous decrease in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a leftward shift of the demand curve, and a decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. When combined, both shifts result in a decrease in equilibrium quantity and an indeterminant change in equilibrium price.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for the happiest person in the room.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"If I'm selecting a group, the first thing I look for is a record of achievement . . . If (candidates achieve) in small things, there's a very good chance they'll perform well in big things. " -- Edmund Hillary, explorer
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MSE
Mean Squared Error
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