|elasticity (ɪlæˈstɪsɪtɪ, ˌiːlæ-)|
|1.||See also elastic limit the property of a body or substance that enables it to resume its original shape or size when a distorting force is removed|
|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|
elasticity e·las·tic·i·ty (ĭ-lā-stĭs'ĭ-tē, ē'lā-)
The condition or property of being elastic; flexibility.
The property of returning to an initial form or state following deformation.
|elasticity (ĭ-lā-stĭs'ĭ-tē) Pronunciation Key
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.