elasticity








noun

  1. the state or quality of being elastic.
  2. flexibility; resilience; adaptability: a statement with a great elasticity of meaning.
  3. buoyancy; ability to resist or overcome depression.
  4. Physics. the property of a substance that enables it to change its length, volume, or shape in direct response to a force effecting such a change and to recover its original form upon the removal of the force.

noun

  1. the property of a body or substance that enables it to resume its original shape or size when a distorting force is removedSee also elastic limit
  2. the state or quality of being elastic; flexibility or buoyancy
  3. a measure of the sensitivity of demand for goods or services to changes in price or other marketing variables, such as advertising
n.

1660s; see elastic + -ity.

n.

  1. The condition or property of being elastic; flexibility.
  2. The property of returning to an initial form or state following deformation.

  1. The ability of a solid to return to its original shape or form after being subject to strain. Most solid materials display elasticity, up to a load point called the elastic limit; loads higher than this limit cause permanent deformation of the material. See also Hooke’s law.

A shift in either demand or supply of a good or service depending on its price. Demand is said to be elastic when it responds quickly to changes in prices, and inelastic when it responds sluggishly.

The property of a material that allows it to return to its original shape after having been deformed and to exert a force while deformed. (See stress.)

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