Óelastísk

Óelastísk is an economic term used to describe a demand or supply that is relatively unresponsive to changes in price. In other words, when the price of a good or service changes, the quantity demanded or supplied does not vary significantly. This concept is an important aspect of elasticity in economics, which measures how much the quantity demanded or supplied reacts to price changes.

Demand that is óelastísk is characterized by a low elasticity coefficient, typically less than one. Consumers or producers are less sensitive to price fluctuations for these goods or services, often because they are necessities or lack close substitutes. Examples include basic utilities such as water and electricity, where demand remains relatively stable regardless of price changes.

Conversely, supply or demand can also be óelastísk on the supply side, indicating producers are unable or unwilling to significantly alter production levels in response to price changes. This can occur in industries with high fixed costs or limited resource availability.

The implications of óelastísk demand or supply are significant for policymakers and businesses. For instance, in markets with óelastísk demand, raising prices may not substantially reduce consumption, potentially leading to increased revenue for sellers but also to issues of affordability and social equity.

Understanding whether demand or supply is óelastísk helps in designing effective economic policies, pricing strategies, and regulatory measures. The concept emphasizes the importance of contextual factors such as the availability of substitutes, the necessity of the goods, and the time horizon considered.

Overall, óelastísk describes a situation where changes in price have a limited effect on the quantity exchanged, highlighting the importance of other factors in market dynamics.