The characteristic of a good or service for which the supply may increase or decrease as needed to match changes in demand. Goods or services whose supply is elastic do not depend on scarce resources for production or fulfillment, and therefore will not see price changes as drastic as those produced by changes in demand for a limited resource.
Related information about elastic supply:
- What is elastic supply? - BusinessDictionary.com
Definition of elastic supply: Supply of a good or service that increases or decreases as the price of an item goes down or up. See also elasticity of supply.
- Price elasticity of supply - Wikipedia, the free encyclopedia
Price elasticity of supply (PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a ...
- Elastic Supply - Financial Dictionary - The Free Dictionary
The degree of producers' responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price.
- elastic supply - AmosWEB
The general supply relation in which relatively small changes in price cause relatively large changes in quantity supplied. Small changes in price cause ...
- What is elastic supply? definition and meaning - InvestorWords.com
Definition of elastic supply: The characteristic of a good or service for which the supply may increase or decrease as needed to match changes in demand.
- Price Elasticity of Supply
If PEoS > 1 then Supply is Price Elastic (Supply is sensitive to price changes). If PEoS = 1 then Supply is Unit Elastic. If PEoS < 1 then Supply is Price Inelastic ...
- Economics Essays: Elastic and Inelastic Supply
Oct 22, 2007 ... Elastic supply means that an increase in price causes a bigger % increase in supply. It has a PES of greater than 1. elastic. Supply will be ...
- Intro to Econs: Perfectly Elastic Supply - YouTube
Mar 4, 2012 ... Please visit www.quickienomics.com for a full video description, mindmaps, as well as other valuable learning resources!!!! Thank you for ...