The meaning of ELASTICITY is the quality or state of being elastic. How to use elasticity in a sentence.

Feb 5, 2025 · Elasticity is an economic term that describes the responsiveness of one variable to changes in another. It commonly refers to how demand changes in response to price.

In economics, elasticity measures the responsiveness of one economic variable to a change in another. [1] . For example, if the price elasticity of the demand of a good is −2, then a 10% increase in price …

elasticity, in economics, a measure of the responsiveness of one economic variable to another.

What is Elasticity? Elasticity is a general measure of the responsiveness of an economic variable in response to a change in another economic variable. Economists utilize elasticity to gauge how …

Changing frequently (Definition of elasticity from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

Definition of elasticity noun from the Oxford Advanced Learner's Dictionary. the quality that something has of being able to stretch and return to its original size and shape (= of being elastic) As you get …