ELAST stands for various terms. Discover the full forms, meanings, and possible interpretations of ELAST across different fields and industries.
Having an elasticity greater than one. For a price elasticity of demand, this means that expenditure rises as price falls. For an income elasticity it means that expenditure share rises with income, a superior good. Contrasts with inelastic and unit elastic. Elastic demand for either exports or imports is sufficient to satisfy the Marshall-Lerner condition.
Bibliographic CodeEducationJournalPeriodicalAnother term for rubber. A rubber or rubber-like natural or synthetic material that can be stretched repeatedly and that returns to its approximate original dimensions when the stress is released. A material that at room temperature stretches under low stress to at least twice its length and snaps back to original length upon release of stress. Any elastic, rubber like substance such as natural or synthetic rubber.
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