Elasticity n. : The quality of being elastic; the inherent property in bodies by which they recover their former figure or dimensions, after the removal of external pressure or altering force; springiness; tendency to rebound; as, the elasticity of caoutchouc; the elasticity of the air.

Elasticity n. : Power of resistance to, or recovery from, depression or overwork.

Example:


Taxonomy
elasticity, price, elastic, products, consumers, economics, price elasticity of demand, quantity, rises, price increase, free encyclopedia, slope of a curve, service, quantity demanded, Arc elasticity, substitute, short term, long term.

Defination from the web:
elasticity is the ratio of the percent change in one variable to the percent change in another variable. ... Commonly analyzed are elasticity of substitution, price and wealth. Elasticity is a popular tool among empiricists because it is independent of units and thus ...