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.
Browse by Subjects
See All Related Terms »
enterprise value (EV)
fixed asset unit
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):