Elasticity

The elasticity of economics measures the reactivity of certain economic variables to others. If y is very sensitive to the change of x, the variable y (eg demand for a particular item) is flexible with respect to other variable x (eg the price of that item); conversely, if y is If it reacts very little to the change in x or does not respond at all, y is inelastic to x

Strictly speaking, the elasticity for x is calculated as the ratio of the rate of change to the rate of change in the amount of x. In algebraic form, elasticity (E) is defined as E =% Δy /% Δx. If E is greater than 1, Y is resilient to x, if E is less than 1 it is not elastic for x and E is equal to 1, it is "unit elasticity" with respect to x.

Flexibility is a very important concept in economics. Several types of resilience often used to describe well-known economic variables acquired their own special names over time. These include the price elasticity of supply and demand (elasticity of supply and demand with respect to price), income elasticity of demand, mutual price elasticity (elasticity of commodity price) which respects prices of other commodities, various production Factors (eg substitution elasticity between labor force and elasticity of intertemporal substitution (eg resilience of future consumption elasticity to consumption)

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