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- Dictionaryelasticity/ˌiːlaˈstɪsɪti/
noun
- 1. the ability of an object or material to resume its normal shape after being stretched or compressed; stretchiness: "aging can decrease the elasticity of your skin" Similar Opposite
- 2. ability to change and adapt; adaptability.
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Elasticity, ability of a deformed material body to return to its original shape and size when the forces causing the deformation are removed. A body with this ability is said to behave (or respond) elastically. Most solid materials exhibit elastic behavior.
Learn about the price elasticity of demand, a concept measuring how sensitive quantity is to price changes. Elasticity is calculated as percent change in quantity divided by percent change in price. Elastic situations have elasticity greater than 1, while inelastic situations have elasticity less than 1.
Jan 2, 2021 · Elastic is a term used in economics to describe a change in the behavior of buyers and sellers in response to a single variable like a change in price or other variables for a good or...
Key points. Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. It is computed as the percentage change in quantity demanded—or supplied—divided by the percentage change in price.
The meaning of ELASTICITY is the quality or state of being elastic. How to use elasticity in a sentence.
ELASTICITY | English meaning - Cambridge Dictionary. Meaning of elasticity in English. elasticity. noun [ U ] uk / ˌi.læsˈtɪs.ə.ti / us / ˌi.læsˈtɪs.ə.t̬i / Add to word list. the ability to stretch: As the skin grows older it loses its elasticity. the ability to change: There is some elasticity in our plans - nothing has been firmly decided yet.
Feb 28, 2024 · Elasticity is a measure of a variable's sensitivity to a change in other variables— or a single variable. Most commonly this sensitivity is the change in quantity...
Lesson Overview - Cross Price Elasticity and Income Elasticity of Demand. Why are resold concert tickets so expensive? Why is holiday candy so cheap in January? Learn how supply and demand changes can influences how much things cost, and why the prices of some items can change so dramatically.
noun. the state or quality of being elastic. flexibility; resilience; adaptability: a statement with a great elasticity of meaning. ability to resist or overcome depression; buoyancy.
Sep 22, 2019 · Elasticity is a physical property of a material whereby the material returns to its original shape after having been stretched out or altered by force. Substances that display a high degree of elasticity are termed "elastic."
