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.
This process is called homologation, derived from the Greek word homologeo, meaning âto agree.â. Homologation is a prerequisite for qualification, not a substitute for it. A car might be properly homologated and still be disqualified for having non-homologated components or modifications forbidden by the rules.omologation seems to be the best way to ensure racing efforts follow through on their promise that racing developments can help make better street cars. In the best cases, tweaks are made to the design of the base car to help the race version: things like engine configurations or chassis design.