Main Entry: elas·tic·i·ty

Pronunciation: \i-ˌlas-ˈti-sə-tē, ˌē-ˌlas-, -ˈtis-tē\

Function: noun

Inflected Form(s): plural elas·tic·i·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>