n.
Pronunciation: i- ˌ las- ' ti-s ə -t ē , ˌ ē - ˌ las-, - ' tis-t ē
Function: noun
Inflected Form: plural -ties
Date: 1664
1 : the quality or state of being elastic: as a : the capability of a strained body to recover its size and shape after deformation : SPRINGINESS b : RESILIENCE 2 c : the quality of being adaptable
2 : the responsiveness of a dependent economic variable to changes in influencing factors < elasticity of demand> <price elasticity >