Elastic good
This is an old revision of this page, as edited by AddisonDM (talk | contribs) at 17:14, January 3, 2009. It may differ significantly from current revision.
- It has been proposed that this page, :Elastic good, be titled, "Elastic good".
An elastic good is a good that has elastic demand. If a product is elastic, consumers will be able to easily adapt to the change through substitution. If the price of an elastic good is raised, it causes a significant drop in demand.