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| In economics and business studies, the price elasticity of demand (PED) is an elasticity that measures the nature and degree of the relationship between changes in quantity demanded of a good and changes in its price.See also
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8.The demand for a good is relatively inelastic when the quantity demanded does not change much with the price change.Goods and services for which no substitutes exist are generally inelastic.Demand for an antibiotic, for example, becomes highly inelastic when it alone can kill an infection resistant to all other antibiotics.Rather than die of an infection, patients will generally be willing to pay whatever is necessary to acquire enough of the antibiotic to kill the infection.Price elasticity of demand is rarely constant throughout the ranges of quantity demanded and price.For these and other reasons, elasticity of demand remains valid only over a specific (and small) range of price.Demand for cars (as well as other goods and services) is not elastic or inelastic for all prices.Elasticity of demand can change dramatically across a range of prices.Inelastic demand is commonly associated with "necessities," although there are many more reasons a good or service may have inelastic demand other than the fact that consumers may "need" it.Demand for salt, for instance, at its modern levels of supply is highly inelastic not because it is a necessity but because it is such a small part of the household budget.Demand for water, another necessity, is highly inelastic for similar supply side reasons.Demand for other goods, like chocolate, which is not a necessity, can be highly elastic.Substitution serves as a much more reliable predictor of elasticity of demand than "necessity."For example, few substitutes for oil and gasoline exist, and as such, demand for these goods is relatively inelastic.However, products with a high elasticity usually have many substitutes.Consumer perception plays an important role in explaining the demand for products in these categories.The greater this choice the more price elastic the good will be and, by contrast, as the balance of this power falls in favour of the supplier the more inelastic the good will be.Availability of Good Quality Substitutes: Easily substitutable goods will enable buyers to switch to an alternative good and thus such goods will exhibit greater elasticity than goods that do not have substitutes available, cetirus paribus (assuming all other variables are equal).The better the substitute(s) can replace the original good in terms of desirability, affordability, practicality etc.For example, a commuter taking the train to work could switch to taking the bus if faced with rising train fares.Whether the good is habit forming or obligatory: Addictive drugs, whether psychologically addictive or physically addictive, and other goods where dependency plays a key role will naturally exhibit inelastic properties.Governments often place taxes on these types of goods, namely alcohol, tobacco and fuel because of their highly inelastic demand since consequently such goods are assured revenue generators for the treasury.The proportion of the consumer's income the good represents: Goods which typically make up a small proportion of people's income will exhibit inelastic qualities.How closely the good is defined: Taking our example from (2), cigarettes in general are, as discussed, an inelastic good.However a particular brand of cigarettes will exhibit far more elastic properties if its price rises.In general therefore, the exact type of good will affect its PED properties."Choice" is very subjective and factors 1,2 and 3 vary relative to the individual consumer because every single consumer can potentially have a different Perceived Value of a good.At nationwide level, if the cost of butter rises significantly consumers can choose to consume margarine instead but a shop who makes and sells butter cookies will not have this option and thus the PED will thus be far more inelastic in the latter case.However an airline company has no choice but to absorb rising fuel costs and will according have a much more inelastic demand curve for the essentially the same good.How closely the time period is defined: Generally the greater the time period, the more possible it may be for a good to be replaced with a substitute.However over three months, a switch is far more viable and the PED will be accordingly more elastic.Over short time periods, prices of substitutes maybe static, over longer periods, the price of substitutes may drop, making them more appealing.This simple formula has a problem, however.This formula is usually valid either way as long as you are consistent and choose only original values or only final values.As elasticity decreases in the elastic range, revenue increases, but in the inelastic range, revenue decreases.When the price elasticity of demand for a good is perfectly elastic (Ed is undefined), any increase in the price, no matter how small, will cause demand for the good to drop to zero.The demand curve is a horizontal straight line.The demand curve is a vertical straight line; this violates the law of demand.An example of a perfectly inelastic good is a human heart for someone who needs a transplant; neither increases nor decreases in price affect the quantity demanded (no matter what the price, a person will pay for one heart but only one; nobody would buy more than the exact amount of hearts demanded, no matter how low the price is).General references
Case, Karl E.All text is available under the terms of the GNU Free Documentation License.Properly implemented, however, elastic design can be a viable option that enhances usability and accessibility without mandating design sacrifices.To employ an elastic approach, however, is to fully exploit the capabilities of computer displays and web browsers.To understand how Elastic Design works, we must first take another look at a subject that would seem to be played out: namely, different methods of text sizing.Text is the most obvious candiate for elasticity.The benefit of using ems over keywords is that you can use ems to define the dimensions of your entire layout, which will then scale in proportion to the text.Elasticising a layout so that its size will change when a user explicitly opts to change text size may seem unnecessary and even unwanted, but if you have text that can be expanded and contracted, it can make sense for the layout in which it is contained to expand and contract accordingly.This problem is solved by defining the column in proportion to the text.For a working example of this approach, see the Elastic Lawn design in the CSS Zen Garden.Many of the elastic design methods that are covered in this article may be viewed on my demonstration page.Was it good for you, too?Patrick Griffiths is a freelance webmaker based in London who has a penchant for soul
music, evolution and walking his pet website, HTML Dog.Elastic Design combines the strengths of both.Chicago area and around the globe in an
intimate, focused setting.No area of the sound palette goes
unexplored .So, now someone's MOM came out and affirms that Katie did indeed run the entire NYC Marathon.Wait, this isn't an episode of Scooby Doo.Plus, Eva Longoria is packing on the pounds and did Katie run the marathon or not?Write in your questions for next week when Mark will give us a special report on The Male Perspective.That video is freaking awesome and so damn true.Hey, is there a position available for male eye candy that would enjoy being treated like an object?But check it: there's a huge conspiracy theory brewing and the evidence is pretty damning.We address your feelings of loss over Comment Boy, Nicole Ritchie likes her baby weight, Jennifer Love Hewitt wants a talk show, and Cooking with Kim presents a light and easy take on one of Kim's favorite restaurant meals.Yeah, it's schadenfreude and petty, but this is all I have, Gwynnie, to maintain my ability to like you.But let's just talk about this situation for a sec, ok?Er, excuse me, crazy raw food purge thing?Way to stay in it and keep taking money through the peak of the New Year's Resolution craze, guys!Yeah, even though they knew they were going to pull the plug, they kept signing new clients for long term plans and taking their money.Weirdly, Jenny Craig has stepped up and is offering to make good on those bilked dieters, so they won't be left entirely in the dust.Bodybugg but loves her heart rate monitor:
I do not have such a device, but I do have a heartrate monitor that tracks how many calories I burn during a workout.Polar F11, but it wasn't cheap, but I say it was worth every penny.Asshole comment of the day goes to what some dude in line said to Loey.Dude, mind your own business!Wonder if they're just sticking red grape skins in capsules and telling everyone that they can feel free to eat burgers and fries now?Julie at Flip This Body got a new job, y'all!Sometimes a major life change like this helps to reinvigorate us about other components of our lives, including healthful habits.We've all been there, but remember: today's a new day to treat yourself as well as you can!Ohmigod, can we all please talk about how wonderful it is that Shauna wrote a book?!?Even the
guidelines that the government sets for a healthy lifestyle are
negotiated with the food industry, wording and serving size amounts are
argued by lobbyists until their part of the pyramid is to their liking.As I watched The Biggest Loser last week, I noticed that everyone wears these grey armband things on their upper arms.Do you really need to know whether you burned through 200 calories or 300?OMG, Greasy Bear Brandon Davis?Check out these before, way before and after pics.In fact, is that a rib or two?He's the ghost of his former self.Stacy featuring Yoga Today, Love Food Hate Waste, and My Virtual Model.That's right, you can depend on us.If you are interested in getting more of Cynthia's advice for yourself, check out her new teleclass.And this would also include reducing the sugars
in my food too.For lunches, I should start to bring things for lunch and stay away
from the frozen diet dinners and eat real food.The plan is for me to get some of these grains, study how to cook
them from the notebook she sent me and make a big batch to put in the
fridge.This can
work out for dinner too and I could have a cup of soup as well.And she's never been bigger than a size eight!Can you seriously believe that codswallop?Sarah: Because the idea of not being on a diet and still losing weight is incredibly appealing, right?They know when I'm not feeling well because I order a soy chai instead.She knows that we go to the farmer's market on Saturdays and now we sometimes exchange veggie recipes through the drive thru window when there isn't a line.Continue reading at DailyBedpost.The lovely Kate brought to our attention that the Internet is a bit flummoxed by Mike Huckabee's suspicious weight loss.Don't take the high road and imply that I just don't want to lose weight as badly as you must have.Ugly Betty saves the day...Ugly Betty (yes, apparently there are still fresh episodes despite the strike!K, I wonder what will happen?Welcome to the real world, folks.Ugly Betty saves the day...Elastic and Inelastic Collisions
A perfectly elastic collision is defined as one in which there is no loss of kinetic energy in the collision.An inelastic collision is one in which part of the kinetic energy is changed to some other form of energy in the collision.Any macroscopic collision between objects will convert some of the kinetic energy into internal energy and other forms of energy, so no large scale impacts are perfectly elastic.Momentum is conserved in inelastic collisions, but one cannot track the kinetic energy through the collision since some of it is converted to other forms of energy.Collisions between hard spheres may be nearly elastic, so it is useful to calculate the limiting case of an elastic collision.Elastic Collisions
An elastic collision is defined as one in which both conservation of momentum and conservation of kinetic energy are observed.For macroscopic objects which come into contact in a collision, there is always some dissipation and they are never perfectly elastic.Collisions between hard steel balls as in the swinging balls apparatus are nearly elastic."Collisions" in which the objects do not touch each other, such as Rutherford scattering or the slingshot orbit of a satellite off a planet, are elastic collisions.In atomic or nuclear scattering, the collisions are typically elastic because the repulsive Coulomb force keeps the particles out of contact with each other.Collisions in ideal gases are very nearly elastic, and this fact is used in the development of the expressions for gas pressure in a container.Swinging Balls
A popular demonstration of conservation of momentum and conservation of energy features several polished steel balls hung in a straight line in contact with each other.If two balls are sent in, two come out, and so forth.Beta
Amazon Elastic Compute Cloud (Amazon EC2) is a web service that provides resizable compute capacity in the cloud.Just as Amazon Simple Storage Service (Amazon S3) enables storage in the cloud, Amazon EC2 enables "compute" in the cloud.Amazon EC2's simple web service interface allows you to obtain and configure capacity with minimal friction.Create an Amazon Machine Image (AMI) containing your applications, libraries, data and associated configuration settings.Amazon EC2 provides tools that make storing the AMI simple.Choose the type(s) of instance you want to run.Start, terminate, and monitor as many instances of your AMI as needed, using the web service APIs.ElasticAmazon EC2 enables you to increase or decrease capacity within minutes, not hours or days.You pay a very low rate for the compute capacity you actually consume.Pricing
Pay only for what you use.One EC2 Compute Unit provides the equivalent CPU capacity of a 1.GHz Xeon processor referenced in our original documentation.Amazon EC2 Instance Types for details on available instance configurations.Amazon S3 usage is billed separately from Amazon EC2; charges for each service will be billed at the end of the month.Amazon EC2 is sold by Amazon Web Services LLC.Your AMIs are your unit of deployment.Amazon EC2 provides a number of command line tools to make creating an AMI easy.Once you create a custom AMI, you will need to upload it to Amazon S3.You can start your AMI on any number and any type of instance by calling the RunInstances API.You simply need to state how many instances you wish to start, and choose the instance type most appropriate for your need (by default, a "Small" instance will be launched).You will not be charged for bandwidth between other Amazon EC2 instances or between Amazon EC2 and other Amazon Web Services offerings (such as Amazon S3).Each instance will store its actual launch time.Measuring Compute ResourcesTransitioning to a utility computing model fundamentally changes how developers have been trained to think about CPU resources.The amount of CPU that is allocated to a particular instance is expressed in terms of these EC2 Compute Units.Within a few minutes, you will be able to log into your own instance and start playing!This is not one more of those debates.Then I added a couple of other declarations that may be of interest to that rule.Unfortunately for IE users, this will not make the width elastic, just fluid with a maximum width.And there you have it: elastic width with concertina padding and a maximum width.This doesn't anyway solve the CSS validity problem if the page is viewed with IE!That's not the case, I've suggested to use a file (js) instead of another file (ie.This method just allow to submit entirely valid code to all the browsers.Invalid values shouldn't create any issues in any browsers that don't understand them.XHTML, on the other hand, MUST be valid by it's very XML nature.Safari and Firefox preemptively supporting CSS3 properties that aren't "standards"(read: recommendations) yet and may change in the future.The idea of standards is a bit of a convenient illusion that for some people gets in the way of simple practicality.What I meant by splitting the hacks up is that Roger's implementation keeps all of the IE hacks together in one place at the moment.Your suggestion puts some of them at the bottom of the main CSS file, and another chunk in a separate JS file.There are some hacks which have to be done inline with the regular stuff.If the browser arrives at a value it doesn't understand it is supposed to ignore that item.To make it short: It's harmful!Nothing here that will break down too early, so no need for it.That's how standards are developed and tested.No need to make them rule of law.Generally, this might just be using "MOSe" and waiting for a broader standards support, specifically, it is using alternative techniques (like SIIR or Phark for image replacement).Feaverish "wheres the book" .However inexplicably, IE is still quite ubiquitous.Using a proprietary, but wholly unobtrusive technique like conditional comments to serve proprietary CSS to IE is definitely the best solution if you ask me.The hack management optimization has (imho) lower priority than standards compliance.Let's remember that we're making websites, not religion.We all here agree that conditional comments are a good solution, if there's no cleaner way to do our job.Lets hope IE7 will, and that a decent adoption rate will occur.But I'm not holding my breath.It does break down when js is turned off in IE.I've been a designer who would shy away from fluid layouts due to the way they look in larger browser windows.But I think percentages plus a max width, like what you're doing, would probably work better.This is a great discusssion and the coments are almost as helpful as your post.Since I'm looking at implementing this on my redesign, I'm just now getting into the nitty gritty of your elastic setup.On IE6 Win2K (I haven't tested any other IE versions), I get a strange effect:
Fluid works as long as you don't stretch beyond 900px.Not sure if it will help, and I'm not going to spend a whole lot of time on it.IE has already stolen too many months of my life.I'm a big fan of your elastic designs.On IE6 Win2K (I haven't tested any other IE versions), I get a strange effect: Fluid works as long as you don't stretch beyond 900px.In a row i want to have three columns of FIXED width.Whatever content it has inside, i always want the overall layout to be constant.What do I need to do to get my header image to resize like yours does?IE problem that would be greatly appreciated.More about me and this site.Use the promo code 456BEREASTREET3 to save USD 20 when you sign up!Styling form controls and Styling even more form controlsTrying to make form controls appear identical across browsers and platforms is futile.Quotations and citations: quoting textA closer look at the q, blockquote, and cite elements.Show your support by buying a book or two from SitePoint or getting me something from my Amazon Wish List.So since March 2006 we have been setting up the project and conducting preliminary exploratory research work.AR, where the user wears something in front of their eyes that superimposes 3D objects into the physical world.In my experience this has been slow, inaccurate, cumbersome, headache inducing, the worst of VR plus a lot more problems.We confused ARtoolkit by drawing markers in perspective, and tried to get recursive objects by using screen based markers and video feedback.Now as it turns out there is an entire research programme dedicated to looking at just this topic.Variable Environment is a research programme involving partners like ECAL and EPFL.Check out the simple AR ready products, sample applications and mixed reality tests with various patterns.For the last couple of weeks I have been experimenting with tagging personal space with NFC.This is an initial step in thinking about the use of RFID and mobile phones, a way of thinking through making.This space has potential be used for context information; a corner of the table could make my phone silent, another corner could change my presence online.Will people be offended by my layout?It will be interesting to see how this plays out and changes over time, particularly in the reaction of others.The desk is made from 20 mm birch ply, surfaced in Linoleum.RFID to the underside, in the place that felt most natural.Overall the interaction between phone and RFID tags has been good.This seems a little awkward to use at first, but slowly becomes natural.Overall there is a lack of integration between the service discovery application and the rest of the system: Contacts, SMS archive and service bookmarks etc.RFID tag near the base of the phone (when the keypad lock is off).SMS to a particular number.This part of the application has the most room for innovative extensions: we should be able to set the state of the phone, change profiles, change themes, download graphics, etc.If the tag is writeable we are asked which shortcut to write to the tag.Lastly, there is a log of actions.This work explores the visual link between information and physical things, specifically around the emerging use of the mobile phone to interact with RFID or NFC.It was a presentation and poster at Design Engaged, Berlin on the 11th November 2005.As mobile phones are increasingly able to read and write to RFID tags embedded in the physical world, I am wondering how we will appropriate this for personal and social uses.What are the visual clues for this interaction?It uncovers interesting directions while the technology is still largely out of the hands of everyday users.RFID into craft products.The icons range from being generic (abstracted circles or arrows to indicate function) to specific (mobile phones or cards touching tags).Arrows might be suitable for specific functions or actions in combinations with other illustrative material.Usability may improve when these icons are around the same size as the phone, rather than being a specific point to touch.There is more to be done in looking at specific applications, finding suitable uses and extending the language to cover other functions and content.Feel free to use and modify the icons, I would be very interested to see how they can be applied and extended.Suica, JR, East Japan Railway Company.NFC shell for 3220, Nokia.Contactless payment symbol, Mastercard.Over Easter I sketched out some ideas for navigating music on a portable player.Tunes rather than browsing lists.QIX search would do this for a music library on a mobile?But scrubbing through an entire album, with a directly mapped input, would be a great way of finding the track you wanted.Timo Arnall is a designer working with interactive products and media.Even the typography is lovingly handled, with each segment changing ever so slightly and unified by the use of Gotham in most of the applications.You are buying something with a story, a history to it.Cellotape RFID tagsOf course Cellotape is in on the act of RFID manufacture and printing.Tag: rfid
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