It is not to be confused with Price elasticity of supply. Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price, ceteris paribus.
Resolution in western tonal music theory is the move of a note or chord from dissonance (an unstable sound) to a consonance (a more final or stable sounding one).
Tonality is what scale the music is in, usually major of minor. -major = happy-minor = sad-modal = sounds like monks singing in a monastery-pentatonic = chinesey-gamelan music, all the black notes-atonal = clashing sounds, nothing nice about it.