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The elastic modulus of an object is defined as the slope of its stress–strain curve in the elastic deformation region: [1] A stiffer material will have a higher elastic modulus. An elastic modulus has the form: =
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Hooke's law may be written in terms of tensor components using index notation as = +, where δ ij is the Kronecker delta. The two parameters together constitute a parameterization of the elastic moduli for homogeneous isotropic media, popular in mathematical literature, and are thus related to the other elastic moduli ; for instance, the bulk ...
The price elasticity of supply (PES or E s) is commonly known as “a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.” Price elasticity of supply, in application, is the percentage change of the quantity supplied resulting from a 1% change in price.
Elasticity is an important concept in neoclassical economic theory, and enables in the understanding of various economic concepts, such as the incidence of indirect taxation, marginal concepts relating to the theory of the firm, distribution of wealth, and different types of goods relating to the theory of consumer choice.
Young's modulus is the slope of the linear part of the stress–strain curve for a material under tension or compression. Young's modulus (or Young modulus) is a mechanical property of solid materials that measures the tensile or compressive stiffness when the force is applied lengthwise. It is the modulus of elasticity for tension or axial ...
The term electronic payment refers to a payment made from one bank account to another using electronic methods and forgoing the direct intervention of bank employees. Narrowly defined electronic payment refers to e-commerce —a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic ...
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions ( as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good. [1]