Meaning elastic supply
What does elastic supply mean? Here you find 4 meanings of the word elastic supply. You can also add a definition of elastic supply yourself

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elastic supply


1. A situation in which a percentage increase in price attracts a greater percentage of' products offered to the market. 2. A situation in which the percentage of goods offered "stretches" more than the percentage increase in price.
Source: ama.org

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elastic supply


Relatively small changes in supply price cause relatively larger changes in quantity supplied. Elastic supply means that changes in the quantity supplied are relatively responsive to changes in the su [..]
Source: glossary.econguru.com

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elastic supply


Definition 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 [..]
Source: investorwords.com

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elastic supply


A good has an elastic supply when a price change results in large increase in the quantity of production. More specifically, it refers to the situation when a one percent increase in the price causes [..]
Source: foodsecurityportal.org

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