Micro 2.4-Determinants of Elasticity Mashup

Little Storage Capacity

High Resource Mobility

Narrowly Defined

Short Time Horizon for Producers

Long Time Horizon for Producers

Low Resource Mobility

Good is High % of Income

Luxury

Short Time Horizon for Consumers

Good is Low % of Income

Necessity

Many Firms

Long Time Horizon for Consumers

Broadly Defined

Few Firms

High Excess Productive Capacity

High Resource Availability

Low Resource Availability

Low Number of Available Substitutes

Little Excess Productive Capacity

High Storage Capacity

Large Number of Available Substitutes