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.
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.
Structural analysisStructural analysis is a branch of solid mechanics which uses simplified models for solids like bars, beams and shells for engineering decision making. Its main objective is to determine the effect of loads on the physical structures and their components. In contrast to theory of elasticity, the models used in structure analysis are often differential equations in one spatial variable. Structures subject to this type of analysis include all that must withstand loads, such as buildings, bridges, aircraft and ships.
Structural engineeringStructural engineering is a sub-discipline of civil engineering in which structural engineers are trained to design the 'bones and muscles' that create the form and shape of human-made structures. Structural engineers also must understand and calculate the stability, strength, rigidity and earthquake-susceptibility of built structures for buildings and nonbuilding structures. The structural designs are integrated with those of other designers such as architects and building services engineer and often supervise the construction of projects by contractors on site.
Structural integrity and failureStructural integrity and failure is an aspect of engineering that deals with the ability of a structure to support a designed structural load (weight, force, etc.) without breaking and includes the study of past structural failures in order to prevent failures in future designs. Structural integrity is the ability of an item—either a structural component or a structure consisting of many components—to hold together under a load, including its own weight, without breaking or deforming excessively.
Structural engineerStructural engineers analyze, design, plan, and research structural components and structural systems to achieve design goals and ensure the safety and comfort of users or occupants. Their work takes account mainly of safety, technical, economic, and environmental concerns, but they may also consider aesthetic and social factors. Structural engineering is usually considered a specialty discipline within civil engineering, but it can also be studied in its own right.
Finite element methodThe finite element method (FEM) is a popular method for numerically solving differential equations arising in engineering and mathematical modeling. Typical problem areas of interest include the traditional fields of structural analysis, heat transfer, fluid flow, mass transport, and electromagnetic potential. The FEM is a general numerical method for solving partial differential equations in two or three space variables (i.e., some boundary value problems).
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.
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.
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.
Structural systemThe term structural system or structural frame in structural engineering refers to the load-resisting sub-system of a building or object. The structural system transfers loads through interconnected elements or members. Commonly used structures can be classified into five major categories, depending on the type of primary stress that may arise in the members of the structures under major design loads. However any two or more of the basic structural types described in the following may be combined in a single structure, such as a building or a bridge in order to meet the structure's functional requirements.
Stress corrosion crackingStress corrosion cracking (SCC) is the growth of crack formation in a corrosive environment. It can lead to unexpected and sudden failure of normally ductile metal alloys subjected to a tensile stress, especially at elevated temperature. SCC is highly chemically specific in that certain alloys are likely to undergo SCC only when exposed to a small number of chemical environments. The chemical environment that causes SCC for a given alloy is often one which is only mildly corrosive to the metal.
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.
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.
Strain (chemistry)In chemistry, a molecule experiences strain when its chemical structure undergoes some stress which raises its internal energy in comparison to a strain-free reference compound. The internal energy of a molecule consists of all the energy stored within it. A strained molecule has an additional amount of internal energy which an unstrained molecule does not. This extra internal energy, or strain energy, can be likened to a compressed spring.
Stress concentrationIn solid mechanics, a stress concentration (also called a stress raiser or a stress riser or notch sensitivity) is a location in an object where the stress is significantly greater than the surrounding region. Stress concentrations occur when there are irregularities in the geometry or material of a structural component that cause an interruption to the flow of stress. This arises from such details as holes, grooves, notches and fillets. Stress concentrations may also occur from accidental damage such as nicks and scratches.
Ring strainIn organic chemistry, ring strain is a type of instability that exists when bonds in a molecule form angles that are abnormal. Strain is most commonly discussed for small rings such as cyclopropanes and cyclobutanes, whose internal angles are substantially smaller than the idealized value of approximately 109°. Because of their high strain, the heat of combustion for these small rings is elevated. Ring strain results from a combination of angle strain, conformational strain or Pitzer strain (torsional eclipsing interactions), and transannular strain, also known as van der Waals strain or Prelog strain.
Solid mechanicsSolid mechanics (also known as mechanics of solids) is the branch of continuum mechanics that studies the behavior of solid materials, especially their motion and deformation under the action of forces, temperature changes, phase changes, and other external or internal agents. Solid mechanics is fundamental for civil, aerospace, nuclear, biomedical and mechanical engineering, for geology, and for many branches of physics and chemistry such as materials science.
Strain energy density functionA strain energy density function or stored energy density function is a scalar-valued function that relates the strain energy density of a material to the deformation gradient. Equivalently, where is the (two-point) deformation gradient tensor, is the right Cauchy–Green deformation tensor, is the left Cauchy–Green deformation tensor, and is the rotation tensor from the polar decomposition of . For an anisotropic material, the strain energy density function depends implicitly on reference vectors or tensors (such as the initial orientation of fibers in a composite) that characterize internal material texture.
Finite strain theoryIn continuum mechanics, the finite strain theory—also called large strain theory, or large deformation theory—deals with deformations in which strains and/or rotations are large enough to invalidate assumptions inherent in infinitesimal strain theory. In this case, the undeformed and deformed configurations of the continuum are significantly different, requiring a clear distinction between them. This is commonly the case with elastomers, plastically-deforming materials and other fluids and biological soft tissue.
