If food demand or supply has a very low elasticity with respect to price in the short term then when we have only a minor change in supply and or demand then we will see large changes in food prices.

FORBES: The Real George Osborne: World Development Movement's New Campaign

Especially if elasticity is low, policymakers should be seeking assurance that charities spend money in a particularly wise, effective way.

ECONOMIST: Charity and taxation

The idea of economists to use artificial scarcity pricing to do this is aggressively marketed in blogs, magazines and TV shows, but is extremely unlikely to work, because the current price elasticity of oil is so low.

FORBES: Raising Gas Taxes Wouldn't Cut Consumption, But It Still Makes Sense

The engineers had resisted the launch, had recommended against it, citing the "blowby" in an earlier low-temperature launch and studies of the elasticity of the o-rings.

NPR: Challenger: Reporting a Disaster's Cold, Hard Facts