Flexible prices (弹性价格 tánxìng jiàgé) refer to prices that can be adjusted in response to change in market demand or supply. In other words, consumers and producers will negotiate prices and there will be no market surplus or shortage in the long term.
- 弹性 (tánxìng) as in flexible working hours (弹性工作时间 tánxìng gōngzuò shíjiān) or elastic regulations (弹性规则 tánxìng guīzé).
- 价格 (jiàgé) as in the market price (市场价格 shìchǎng jiàgé) or floating price (浮动价格 fúdòng jiàgé).
Also see: inflexible prices and sticky prices.
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