Elasticity the degree to which a demand or supply is sensitive to changes in price or income.

Elasticity is a measure of a variable's sensitivity to a change in another variable. In business

and economics,elasticity refers the degree to which individuals, consumers or producers
change their demand or the amount supplied in response to price or income changes.
Elasticity = % Change in Quantity / % Change in Price. Ineconomics, the elastic product
means that any change in price can result in changes in supply or demand. The inelastic
product means that changes in price do not affect to a noticeable degree the supply or demand.
Example of elastic goods and services include furniture, motor vehicles, instrument
engineering products, professional services, and transportation services. Inelastic goods have
fewer substitutes and price change doesn't affect quantity demanded as much.
Inelastic is an economic term used to describe the situation in which the quantity demanded or
supplied of a good or service is unaffected when the price of that good or service changes.
The most famous example of relatively inelastic demand is that for gasoline. As the price of
gasoline increases, the quantity demanded doesn't decrease all that much. This is because
there are very few good substitutes for gasoline and consumers are still willing to buy it even at
relatively high prices.
A situation that occurs when the price elasticity of demand is equal to negative one (-1). For a
business, when a product exhibits unitary demand this means that a given percent shift in the
price of the product results in an equal but opposite percent change in the amount of product
demanded.
Unitary Elastic Demand. The proportion of change in demand is equal to proportion of change
in price.Example: The price of digital cameras increases by 10%, the quantity of digital cameras
demanded decreases by 10%. The price elasticity of demand is (unitary elastic demand).
Definition of Perfectly Elastic Demand: A Perfectly Elastic Demand is a demand where any
price increase would cause the quantity demanded to fall to zero.
Perfectly elastic demand is when the quantity demanded skyrockets to infinity when the price
drops any amount. ... Inelastic demand is when the quantity demanded rises by a lower percent
than the price drops. For example, if the quantity rose 2 percent when the price fell 5 percent.
An economic situation in which the price of a product will have no effect on the supply. In
a perfectly inelastic situation regardless of the amount of a product on the market, the price of
the product remains the same. Perfectly inelastic is the opposite of perfectly elastic.
Perfectly inelastic demand means that the quantity demanded doesn't change with a change
in price.The demand for salt is one such example of perfectly inelastic demand. If the price of
salt falls people would not start consuming more and more of it, since the body requires just
certain amount of salt.
 Supply is a fundamental economic concept that describes the total amount of a specific good
or service that isavailable to consumers. Supply can relate to the amountavailable at
a specific price or the amount available across a range of prices if displayed on a graph.

The law of supply is a fundamental principle ofeconomic theory which states that, all else
equal, an increase in price results in an increase in quantity supplied. In other words, there is a
direct relationship between price and quantity: quantities respond in the same direction as price
changes.

A supply schedule is a table that shows the relationship between the price of a good and the
quantity supplied. Thesupply curve is a graphical depiction of the supply schedule that
illustrates that relationship between the price of a good and the quantity supplied.

i. Price:
ii. Cost of Production:
iii. Natural Conditions:
iv. Technology:
v. Transport Conditions:
vi. Factor Prices and their Availability:
vii. Government's Policies:
viii. Prices of Related Goods:
Stage directions or stage positions[edit]
In order to keep track of how performers and set pieces move around the space, the stage is divided
up into sections oriented based on the performers perspective to the audience. Movement is
choreographed by blocking which is organized movement on stage created by the director to
synchronize the actor's movement onstage in order to use these positions.

Upstage: The area of the stage furthest from the audience.

Downstage: The area of the stage closest to the audience.
Stage Left: The area of the stage to the performer's left, when facing downstage (i.e. towards the
audience).
Stage Right: The area of the stage to the performer's right, when facing downstage (i.e. towards
the audience).
Center Stage: The center of the playing (performance) area.
Center Line: An imaginary reference line on the playing area that indicates the exact center of
the stage, travelling from up to downstage.
Onstage: The portion of the playing area visible to the audience.
Offstage: The area surrounding the playing space not visible to the audience. Typically this
refers to spaces accessible to the performers but not the audience, such as the wings,
crossovers, and voms.
Note that for non-proscenium performance spaces, typically one direction is arbitrarily denoted as
"downstage" and all other directions reference that point.

Stage components[edit]
Apron: The area of the stage in front of the proscenium arch, which may be small or, in a thrust
stage, large.
Backstage: Areas of the theatre adjacent to the stage accessible only to performers and
technicians, including the wings, crossover, and dressing rooms. Typically this refers to areas
directly accessible from the stage and does not include spaces such as the control
booth or Orchestra pit
Crossover: The area used by performers and technicians to travel from stage left to right out of
sight of the audience onstage created with masking and drapery.
Plaster Line: An imaginary reference line on the playing area that indicates where the
proscenium arch is. Typically, the plaster line runs across the stage at the back face (upstage
face) of the proscenium wall.
Proscenium: The portal that divides the audience from the stage in traditional Western threatres.
Prompt corner: Area just to one side of the proscenium where the stage manager stands to cue
the show and prompt performers.
Rake: A slope in the performance space (stage), rising away from the audience.
Safety curtain: A heavy fireproof curtain, in fiberglass, iron or similar material placed immediately
behind the proscenium.
Shell: A hard, often removable surface, designed to reflect sound out into the audience for
musical performances.
Smoke Pocket: Vertical channels against the proscenium designed to contain the safety curtain.
Thrust stage: A performance space projecting well in front of the proscenium arch, usually with
the audience on three sides.
Wings: Areas that are part of a stage deck but offstage (out of sight of the audience). The wings
are typically masked with legs. The wing space is used for performers preparing to enter,
storage of sets for scenery changes and as a stagehand work area. Wings also contain
technical equipment, such as the fly system.