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.
homologous in Science Expand. Similar in structure and evolutionary origin but having different functions, as a human's arm and a seal's flipper. Being one of a pair of chromosomes, one from the female parent and one from the male parent, that have genes for the same traits in the same positions. Genes on homologous chromosomes may not have the same form, however.