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elastic +‎ -ity



elasticity (countable and uncountable, plural elasticities)

  1. (physics) The property by virtue of which a material deformed under load can regain its original dimensions when unloaded
  2. (economics) The sensitivity of changes in a quantity with respect to changes in another quantity.
    If the sales of an item drop by 5% when the price increases by 10%, its price elasticity is -0.5.
    • 2022 November 30, Anthony Lambert, “Rail fares fit for the 21st century”, in RAIL, number 971, page 43:
      Given elasticity of demand, there is a strong argument that filling the millions of empty seats through lower fares could actually increase revenue.
  3. (computing) A measure of the flexibility of a data store's data model and clustering capabilities.
  4. (computing) A system's ability to adapt to changes in workload by automatically provisioning and de-provisioning resources.
  5. (mathematics) The ratio of the relative change in a function's output with respect to the relative change in its input, for infinitesimal changes at a certain point.
    Synonym: point elasticity
  6. The quality of being elastic.
  7. Adaptability.
    Her elasticity allowed her to recover quickly.
    • 1912, Sir Arthur Conan Doyle, The Lost World[1]:
      "I'll have a try at it, Gladys, if you will only give me an idea what would please you." She laughed at the elasticity of my character.

Derived terms[edit]