Elasticity of substitution. Elasticity of substitution is the elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). In a competitive market, it measures the percentage change in the ratio of two inputs used in response to a percentage change in their prices.
Oracle BPM. Homologation (from the verb homologate, meaning to approve or confirm officially) is the process of certifying or approving a product to indicate that it meets regulatory standards and specifications, such as safety and technical requirements.n English-speaking jurisdictions, homologation is often referred to as type approval or certificate of conformity, because homologating a product entails certifying that it meets the requirements specific to its type.
(plural homologies). 1  A homologous relationship. ( 2 biology) A correspondence of structures in two life forms with a common evolutionary origin, such as flippers and hands. ( 3 chemistry) The relationship between the elements in the same group of the periodic table, or between organic compounds in a homologous series.