ə̇ˌlaˈstisəd.ē, (ˌ)ēl-, -laaˈ-, -ətē, -i sometimes chiefly Brit -_ləˈ- or ˌe(ˌ)l- or -ˌlȧˈ- noun
( -es )
1. : the quality or state of being elastic: as
a. : the capability of a strained body to recover its size and shape after deformation in any way : springiness
b. : resilience
with the elasticity of youth she quickly recovered
c. : adaptability
they do not always perceive that the elasticity of democracy is its strength — New Yorker
2. : the property in paint or varnish that enables the film to follow without breaking changes in the surface to which it is applied
3. : the responsiveness of a dependent variable to changes in a causal factor
the price elasticity of exports and imports may not be adequate to bring about equilibrium — A.H.Hansen
elasticity of demand