elasticity

  

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

  • The rubbery space-age material could stretch to unbelievable lengths and then, because of its natural elasticity, would return to its original form and leave no trace of its transformation.

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  • When she started her business she was utilized elasticity until she determined what was going to work with her product pricing.

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  • One of the reasons kids love silly putty so much is that it has so much elasticity. No matter what you do it can always be molded back to its original form.

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