↔️elasticity

Meaning

The ability of an object or material to resume its normal shape after being stretched or compressed.

The responsiveness of demand or supply to changes in price.

Example Sentences

Rubber has a high degree of elasticity.

The elasticity of demand for luxury goods is high.

Example Expressions

price elasticity

Synonyms

flexibility, resilience, suppleness, adaptability, Responsiveness, Flexibility, Adaptability

Entry 1

flexibility, resilience, suppleness, adaptability

Entry 2

Responsiveness, Flexibility, Adaptability

Antonyms

rigidity, stiffness, Rigidity, Inflexibility, Inelasticity

Entry 1

rigidity, stiffness

Entry 2

Rigidity, Inflexibility, Inelasticity

Collocations

elasticity of demand, elasticity of supply, elasticity coefficient