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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.
Elasticity is an economic term that describes the responsiveness of one variable to changes in another. It commonly refers to how demand changes in response to price.
Introduction to price elasticity of demand (video) | Khan Academy.
Elasticity is a concept which involves examining how responsive demand (or supply) is to a change in another variable such as price or income. Price Elasticity of demand (PED) – measures the responsiveness of demand to a change in price; Price elasticity of supply (PES) – measures the responsiveness of supply to a change in price
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.
1. : the quality or state of being elastic: such as. a. : the capability of a strained body to recover its size and shape after deformation : springiness. b. : resilience sense 2. c. : the quality of being adaptable. 2. : the responsiveness of a dependent economic variable to changes in influencing factors. elasticity of demand. price elasticity.
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."
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.
Elasticity is the ability of materials to return to their original shape after a deforming (stretching, compressing, shearing, bending) force has been removed.
elasticity, in economics, a measure of the responsiveness of one economic variable to another. A variable y (e.g., the demand for a particular good) is elastic with respect to another variable x (e.g., the price of the good) if y is very responsive to changes in x; in contrast, y is inelastic with respect to x if y responds very little (or not ...