elasticity[ē′las tis′ə tē, i las′-]
- The definition of elasticity is the state of being able to stretch and expand, or to be able to bounce back.
- An example of elasticity is the ability of a woman's stomach to stretch during pregnancy.
- An example of elasticity is the personality of someone who always recovers easily from disappointment.
This woman shows great elasticity.
- the quality or condition of being elastic; specif.,
- springiness; flexibility; resilience
- buoyancy of spirit
- Econ. the degree to which the demand for, or supply of, particular goods or services responds to a change in price
- The condition or property of being elastic; flexibility.
- Physics a. The property of returning to an initial form or state following deformation.b. The degree to which this property is exhibited.
- A measure of how changes in price affect supply or demand for a given good, equal to the percentage of change in supply or demand divided by the percentage of the price change.
(countable and uncountable, plural elasticities)
- (physics) The property by virtue of which a material deformed under the load can regain its original dimensions when unloaded
- (economics) The sensitivity of changes in a quantity with respect to changes in another quantity.
- If the sales of an item drop by 5 % when the price increases by 10 %, its price elasticity is -0.5.
- The quality of being elastic.