elasticity definition

elasticity

Economics: Measure of the responsiveness of demand and supply of a good or service to an increase or decrease in its price.

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.

Statistics: Degree to which a dependant variable (such as expenditure) changes in response to a change in an associated independent variable (such as income).

elasticity is in the Economics, Politics, & Society, Industries, Manufacturing, & Technology and Statistics, Mathematics, & Analysis subjects.

elasticity appears in the definitions of the following terms: fiber, Ramsey pricing, cross-elasticity of demand, elastic and elasticity of supply

elasticity appears in these other terms: income elasticity of demand, cross-price elasticity of demand, elasticity of technical substitution, unitary elasticity, price demand elasticity, elasticity of substitution, price elasticity of demand, modulus of elasticity, elasticity of demand, price elasticity of supply and

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