Definition of elasticity in English:

elasticity

Line breaks: elas|ti¦city
Pronunciation: /ɛlaˈstɪsɪti
 
, iː-, ɪ-/

noun

[mass noun]
  • 2Ability to change and adapt; adaptability.
    More example sentences
    • Within the rodents, which generally have short generation times, generation time is positively correlated with adult survival elasticity.
    • They even have enough elasticity power to allow you to disagree with them.
    • It remains a permanent monument to the academic aspect of elasticity.
  • 3 Economics The degree to which a demand or supply is sensitive to changes in price or income: the price elasticity of electricity demand
    More example sentences
    • Cars have a relatively high income elasticity of demand.
    • Students might have been surprised to see they were being asked to work out the rate of inflation, the elasticity or the multiplier.
    • The average of our two estimates of exhortation expenditure elasticities of supply is 0.235.

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