Elasticity Write for us
Supply and demand are the two main reference points in free market price setting. An in-depth analysis of these two variables helps companies correctly assess the market situation and make important decisions, such as pricing or the market launch of a new product line. One value with which these abstract variables can be converted into analyzable figures is the elasticity of demand, which shows how the market reacts flexibly to changes in the price of a product or service. And if you can send us the ideas, you can submit the article to contact@businessian.com.
What is Elasticity?
The term “elasticity” refers to the fabric’s ability to stretch when subjected to a force and then to return to its original shape. In fashion, elastic fabrics are generally the most popular, as they adapt to the body optimally. In addition to clothes made with stretch materials, stockings, and socks are also used to give some elasticity. Thus, socks of various materials, from cotton to nylon, perfectly wrap the foot regardless of its shape, guaranteeing the best possible fit. The elastic material accompanies all movements and significantly increases the comfort of the accessory compared to traditionally produced stockings.
The elasticity of the socks
When wearing a pair of socks, the cut and fit are essential. The insertion of elastic fibers, which are almost exclusively synthetic, during the production process contributes to these two characteristics. While in the past you could only ensure that the sock wouldn’t slip by inserting an elastic inside the hem, today, socks made of stretchy material are entirely flexible and, therefore, are the perfect choice for feet of all shapes.
Brands for highly elastic fibers
In most cases, in stockings and socks, the elasticity is obtained with synthetic fibers called ” elastam. ” Low percentages, usually between 5% and 15%, of these special fibers are inserted into the fabric to increase its elasticity. According to the manufacturer, “elastane” refers to elastic fibers.
What is the price elasticity of demand?
The price elasticity of demand indicates how sensitive the need for specific goods or services is to changes in price. For this purpose, the percentage values for both price and demand changes are calculated and compared. Usually, a price rise leads to a drop in demand because consumers are unable or unwilling to spend more money on the product or service in question. Conversely, a reduction in prices leads to an increase in demand.
Elasticity Of Demand
The. of demand at the price is defined by the ratio between the percentage change in the quantity demanded and that in the price which caused it. Note that, in general, these two variations have opposite signs: for example, as the price increases, the quantity demanded usually decreases. Since by convention, the e. of demand is measured in absolute value, i.e., regardless of the sign, it is customary to prefix the ratio between the fraction changes in quantity demanded and price with the minus sign.
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