Linear elasticityLinear elasticity is a mathematical model of how solid objects deform and become internally stressed due to prescribed loading conditions. It is a simplification of the more general nonlinear theory of elasticity and a branch of continuum mechanics. The fundamental "linearizing" assumptions of linear elasticity are: infinitesimal strains or "small" deformations (or strains) and linear relationships between the components of stress and strain. In addition linear elasticity is valid only for stress states that do not produce yielding.
Price elasticity of demandA good's price elasticity of demand (, PED) is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good, but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent increase in price, holding everything else constant. If the elasticity is −2, that means a one percent price rise leads to a two percent decline in quantity demanded.
Elasticity (physics)In physics and materials science, elasticity is the ability of a body to resist a distorting influence and to return to its original size and shape when that influence or force is removed. Solid objects will deform when adequate loads are applied to them; if the material is elastic, the object will return to its initial shape and size after removal. This is in contrast to plasticity, in which the object fails to do so and instead remains in its deformed state. The physical reasons for elastic behavior can be quite different for different materials.
Deformation (engineering)In engineering, deformation refers to the change in size or shape of an object. Displacements are the absolute change in position of a point on the object. Deflection is the relative change in external displacements on an object. Strain is the relative internal change in shape of an infinitesimally small cube of material and can be expressed as a non-dimensional change in length or angle of distortion of the cube. Strains are related to the forces acting on the cube, which are known as stress, by a stress-strain curve.
Elasticity (economics)In economics, elasticity measures the responsiveness of one economic variable to a change in another. If the price elasticity of the demand of something is -2, a 10% increase in price causes the quantity demanded to fall by 20%. Elasticity in economics provides an understanding of changes in the behavior of the buyers and sellers with price changes. There are two types of elasticity for demand and supply, one is inelastic demand and supply and other one is elastic demand and supply.
Stress–strain curveIn engineering and materials science, a stress–strain curve for a material gives the relationship between stress and strain. It is obtained by gradually applying load to a test coupon and measuring the deformation, from which the stress and strain can be determined (see tensile testing). These curves reveal many of the properties of a material, such as the Young's modulus, the yield strength and the ultimate tensile strength. Generally speaking, curves representing the relationship between stress and strain in any form of deformation can be regarded as stress–strain curves.
Price elasticity of supplyThe price elasticity of supply (PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price. Price elasticity of supply, in application, is the percentage change of the quantity supplied resulting from a 1% change in price. Alternatively, PES is the percentage change in the quantity supplied divided by the percentage change in price. When PES is less than one, the supply of the good can be described as inelastic.
Materials scienceMaterials science is an interdisciplinary field of researching and discovering materials. Materials engineering is an engineering field of finding uses for materials in other fields and industries. The intellectual origins of materials science stem from the Age of Enlightenment, when researchers began to use analytical thinking from chemistry, physics, and engineering to understand ancient, phenomenological observations in metallurgy and mineralogy. Materials science still incorporates elements of physics, chemistry, and engineering.
Share (finance)In financial markets, a share (sometimes referred to as stock) is a unit of equity ownership in the capital stock of a corporation, and can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Share capital refers to all of the shares of an enterprise. The owner of shares in a company is a shareholder (or stockholder) of the corporation. A share is an indivisible unit of capital, expressing the ownership relationship between the company and the shareholder.
Plasticity (physics)In physics and materials science, plasticity (also known as plastic deformation) is the ability of a solid material to undergo permanent deformation, a non-reversible change of shape in response to applied forces. For example, a solid piece of metal being bent or pounded into a new shape displays plasticity as permanent changes occur within the material itself. In engineering, the transition from elastic behavior to plastic behavior is known as yielding. Plastic deformation is observed in most materials, particularly metals, soils, rocks, concrete, and foams.
Cross elasticity of demandIn economics, the cross (or cross-price) elasticity of demand measures the effect of changes in the price of one good on the quantity demanded of another good. This reflects the fact that the quantity demanded of good is dependent on not only its own price (price elasticity of demand) but also the price of other "related" good. The cross elasticity of demand is calculated as the ratio between the percentage change of the quantity demanded for a good and the percentage change in the price of another good, ceteris paribus:The sign of the cross elasticity indicates the relationship between two goods.
Stress–strain analysisStress–strain analysis (or stress analysis) is an engineering discipline that uses many methods to determine the stresses and strains in materials and structures subjected to forces. In continuum mechanics, stress is a physical quantity that expresses the internal forces that neighboring particles of a continuous material exert on each other, while strain is the measure of the deformation of the material. In simple terms we can define stress as the force of resistance per unit area, offered by a body against deformation.
Hooke's lawIn physics, Hooke's law is an empirical law which states that the force (F) needed to extend or compress a spring by some distance (x) scales linearly with respect to that distance—that is, F_s = kx, where k is a constant factor characteristic of the spring (i.e., its stiffness), and x is small compared to the total possible deformation of the spring. The law is named after 17th-century British physicist Robert Hooke. He first stated the law in 1676 as a Latin anagram.
Deformation (physics)In physics and continuum mechanics, deformation is the transformation of a body from a reference configuration to a current configuration. A configuration is a set containing the positions of all particles of the body. A deformation can occur because of external loads, intrinsic activity (e.g. muscle contraction), body forces (such as gravity or electromagnetic forces), or changes in temperature, moisture content, or chemical reactions, etc. Strain is related to deformation in terms of relative displacement of particles in the body that excludes rigid-body motions.
Elasticity of a functionIn mathematics, the elasticity or point elasticity of a positive differentiable function f of a positive variable (positive input, positive output) at point a is defined as or equivalently It is thus the ratio of the relative (percentage) change in the function's output with respect to the relative change in its input , for infinitesimal changes from a point . Equivalently, it is the ratio of the infinitesimal change of the logarithm of a function with respect to the infinitesimal change of the logarithm of the argument.
SecuritySecurity is protection from, or resilience against, potential harm (or other unwanted coercion) caused by others, by restraining the freedom of others to act. Beneficiaries (technically referents) of security may be of persons and social groups, objects and institutions, ecosystems or any other entity or phenomenon vulnerable to unwanted change. Security mostly refers to protection from hostile forces, but it has a wide range of other senses: for example, as the absence of harm (e.g.
Rubber elasticityRubber elasticity refers to a property of crosslinked rubber: it can be stretched by up to a factor of 10 from its original length and, when released, returns very nearly to its original length. This can be repeated many times with no apparent degradation to the rubber. Rubber is a member of a larger class of materials called elastomers and it is difficult to overestimate their economic and technological importance. Elastomers have played a key role in the development of new technologies in the 20th century and make a substantial contribution to the global economy.
Creep (deformation)In materials science, creep (sometimes called cold flow) is the tendency of a solid material to undergo slow deformation while subject to persistent mechanical stresses. It can occur as a result of long-term exposure to high levels of stress that are still below the yield strength of the material. Creep is more severe in materials that are subjected to heat for long periods and generally increase as they near their melting point. The rate of deformation is a function of the material's properties, exposure time, exposure temperature and the applied structural load.
National securityNational security, or national defence, is the security and defence of a sovereign state, including its citizens, economy, and institutions, which is regarded as a duty of government. Originally conceived as protection against military attack, national security is widely understood to include also non-military dimensions, such as the security from terrorism, minimization of crime, economic security, energy security, environmental security, food security, and cyber-security.
Share priceA share price is the price of a single share of a number of saleable equity shares of a company. In layman's terms, the stock price is the highest amount someone is willing to pay for the stock, or the lowest amount that it can be bought for. In economics and financial theory, analysts use random walk techniques to model behavior of asset prices, in particular share prices on stock markets. This practice has its basis in the presumption that investors act rationally and without biases, and that at any moment they estimate the value of an asset based on future expectations.
