Elasticity

Resilience is the core concept of economics and it applies in many cases. From the basic supply and demand analysis, we can see that economic variables such as price, income and demand are the causes. Resilience can provide important information about the strengths and weaknesses of this relationship.

Elasticity refers to the reaction from one economic variable (such as demand) to another variable (such as price).

There are four types of elasticity, each measuring the relationship between two important economic variables. They are:

Demand price flexibility (PED) measures the reactivity of demand against changes in price. PED can be measured in a price range called arc elasticity, or it can be measured at a point called point elasticity.

Supply price elasticity (PES), measurement of responsiveness of supply to price fluctuation

Cross Elasticity of Demand (XED), which measures responsiveness to price fluctuation of a large quantity of another commodity X of a certain commodity X

Resilience of demand return (YED). Measure the reactivity of demand against changes in consumer income.

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