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QUANTITY: In a market, the amount of a good that is bought, sold, or traded among buyers and sellers. In a standard market diagram, quantity is displayed on the horizontal axis.

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ELASTIC

The general relation between two variables in which relatively small changes in one variable (A) cause relatively large changes in another variable (B). Small changes in variable A cause relatively large changes in variable B or the percentage change in variable B is larger than the percentage change in variable A. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Elastic is one of two general elasticity relations between two variables. The other is inelastic.

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Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for deranged pelicans.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"Chance favors only the prepared mind."

-- Louis Pasteur, biologist

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