noun
elasticity
ih-las-TIHS-ih-tee
noun
1
The ability of a material to return to its original shape after being stretched or compressed.
"The elasticity of the rubber sole helps absorb shock while running."
2
In economics, a measure of how much demand or supply changes in response to a change in price or another factor.
"The elasticity of demand for luxury goods is usually high — people cut back quickly when prices rise."
How to Use Elasticity
Learner’s notesIn plain EnglishHow stretchy something is, or in economics, how sensitive demand or supply is to price changes.
Common pairings
price elasticity
elasticity of demand
material elasticity
Word Forms
elasticities plural
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The _____ of the rubber sole helps absorb shock while running.
Etymology
Formed from elastic plus the noun-forming suffix -ity.