Micro 2.4-Determinants of Elasticity Mashup

Long Time Horizon for Consumers

Low Resource Availability

Low Resource Mobility

High Resource Availability

Broadly Defined

High Storage Capacity

Good is Low % of Income

Little Excess Productive Capacity

Short Time Horizon for Consumers

High Resource Mobility

Narrowly Defined

Luxury

Little Storage Capacity

Good is High % of Income

Low Number of Available Substitutes

High Excess Productive Capacity

Long Time Horizon for Producers

Few Firms

Necessity

Many Firms

Large Number of Available Substitutes

Short Time Horizon for Producers