Elastic - Simple English Wikipedia

# Elastic

### From Wikipedia, a free encyclopedia written in simple English for easy reading.

A rubber band is elastic.

Something that is elastic can be stretched easily, like a rubber band.

In economics, people talk about elasticity of supply, or demand, or of price. If the price for a good with an elastic demand goes up, the demand for it will go down.

People will buy fewer DVDs if DVDs get more expensive. DVDs have an elastic demand.

On the other hand, people will not buy less salt or drugs. They need their daily salt or drug intake. Its demand is therefore inelastic.

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Category: Basic English 850 words

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