Genetic Algorithms Provide a Set of Efficient, Domain-Independent Search Heuristics

question 52

Essay

Genetic algorithms provide a set of efficient, domain-independent search heuristics for a broad spectrum of applications. List four possible applications for genetic algorithms.

---

Definitions:

Elasticity of Demand

This term measures how sensitively the quantity demanded of a good responds to a change in its price; a rephrased definition of Elasticity related to demand.

Very Inelastic

Describing a situation where the demand or supply for a good or service is largely unaffected by changes in price.

Inelastic

A characteristic of a good where its demand does not significantly change with changes in price.

Percentage Change

A mathematical calculation that describes the relative change between an old value and a new value, expressed as a percentage.