elasticity

Flexibility is a measure of the relationship between the quantity of services / goods required and their price, income or supply.

If price fluctuation is small and demand fluctuation is large, the product is resilient. This is common for products or services with many choices, or products or services that are relatively price sensitive for consumers. For example, when the price of coke A doubles, if consumers turn to lower Coke B, the demand for coke A decreases.

When the price changes dramatically and the demand changes slightly, the product says it is inflexible. The most famous example of relatively inelastic demand is gasoline. Even if the price of gasoline rises, the necessary amount does not decrease. This is because there are few excellent gasoline substitutes and consumers still intend to purchase at relatively high prices.

Flexibility is important as it explains the basic relationship between commodity price and commodity demand.

There are many alternatives to flexible products and services. As the price of flexible services / products rises, there is a possibility that the quantity required for that item will sharply decrease. Examples of flexible products and services include furniture, automobiles, instrumentation engineering products, professional services and transport services.

There are few substitutes for inelastic products, and changes in prices do not have a significant impact on demand. Some inelastic products include natural gas, electricity, water, beverages, clothing, tobacco, food and oil.

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This elasticity measure is sometimes referred to as the price elasticity of demand for goods, that is, the elasticity of the demand against the price of the product itself, so as to distinguish it from the elasticity of demand of goods. Price change of other goods, that is, supplementary goods or alternative goods. The latter elastic indicator is called cross-price elasticity of demand. As the difference between the two prices or quantities increases, the precision of the PED given by the above equation is reduced by a combination of the two reasons. First, the PED of goods is not necessarily constant, and as stated below, due to its nature of the percentage, PED can change at different points in the demand curve. Elasticity is different from the slope of the demand curve, which depends on the unit used for price and quantity.

The relative responsiveness of the change in demand (Q) to a specific change in unit price (P) is the so-called demand price elasticity, also called PED or price elasticity. In this article we introduce the basic principles of price elasticity theory, then get out of the classroom and return to the real world (although it is slightly disarrayed, Uber's surge pricing model). possibility

Resilience is one of the most important benefits of cloud computing. Flexibility is to tailor your ability to your needs as much as possible. Every element of the architecture is not resilient, but the architect must recognize the importance of resilience and make efforts to use it at every opportunity. In modern clouds, adding additional computing / network / storage (vertical scaling) to existing servers is an easy task. But the ultimate performance and real cost constraints. In terms of scalability, cost, and resiliency, it is recommended to distribute the load among auto expansion groups that add / remove small instances. Your architect should instinctively establish a horizontal ratio from the beginning