Definitions (3)

1.Economics: Measure of the responsiveness of demand and supply of a good or service to an increase or decrease in its price.
2.Engineering: Ability of a material to recover its original dimensions, and to return to its original shape, after being subjected to a stress. See also Hooke's law.
3.Statistics: Degree to which a dependant variable (such as expenditure) changes in response to a change in an associated independent variable (such as income).

Use elasticity in a sentence

Related Videos


Have a question about elasticity? Ask for help in the
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z