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PERFECTLY INELASTIC: An elasticity alternative in which changes in price do NOT cause any change in quantity. In other words, quantity is totally, completely unresponsive to price. Quantity just does not change, regardless of changes in price. Perfectly inelastic should be compared with other elasticity alternatives--perfectly elastic, relatively elastic, relatively inelastic, and unit elastic.
Visit the GLOSS*arama
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The AmosWEB Free Lunch Index is designed to track the state of the economy based on the neverending pursuit of a "free lunch." While there is, of course, no such thing as a "free lunch," what with limited resources and unlimited wants and needs, that doesn't keep us from trying. A higher Free Lunch Index means a better economy. The Free Lunch Index can range from 0 to 800.
Help us compile the Free Lunch Index by providing your lunching activities each day. You have a choice from among nine alternatives:
- Skipped lunch altogether.
- Bought by another.
- Ate lunch at home.
- Brought lunch from home.
- Fast food drive through.
- Fast food dine in.
- All-you-can eat buffet.
- Casual dining with tip.
- Fancy upscale with tip.
Your choice will be combined with other AmosWEB patrons to compile the index. Submit your choice daily. Check back often.
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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.
Complete Entry | Visit the WEB*pedia |
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The Sick State Of HEALTH CAREOur pedestrian's guide to the economy would be remiss if we failed to stroll past the Shady Valley Memorial Hospital and my very own physician's place of business, the Dr. Dowrimple T. Bedside Family Clinic, to examine the considerable controversy over health care. A debate has raged for years over health care in the United States, including, but not limited to, the quality of services, their cost, their slice of the economic pie, who pays, who doesn't, and who should.
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Visit the PEDestrian's Guide
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a really, really exciting, action-filled video game or a coffee cup commemorating the moon landing. Be on the lookout for telephone calls from former employers.
Your Complete Scope
This isn't me! What am I?
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude. " -- Colin Powell, general
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MP
Marginal Product
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