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Meaning of “elastic” in the English Dictionary

"elastic" in British English

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elasticadjective

uk   /iˈlæs.tɪk/  us   /iˈlæs.tɪk/
An elastic ​material is ​able to ​stretch and be ​returned to ​itsoriginalshape or ​size: A lot of ​sportswear is made of very elastic ​material.
able or ​likely to be ​changed: The ​project has only just ​started so any ​plans are still very elastic. In this ​country, ​time is an elastic ​concept.

elasticnoun [U]

uk   /iˈlæs.tɪk/  us   /iˈlæs.tɪk/
a ​type of ​rubber that is ​able to ​stretch and be ​returned to ​itsoriginalshape or ​size: His ​trousers were ​held up with a ​piece of elastic.
(Definition of elastic from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"elastic" in American English

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elasticadjective

 us   /ɪˈlæs·tɪk/
(of a ​material) ​able to ​stretch and be ​returned to ​itsoriginalshape or ​size: She bunched her ​ponytail and ​slipped on an elastic ​hairband.
If something that is not a ​physicalobject is elastic, it is ​able or ​likely to be ​changed: Our ​plans are still very elastic.
(Definition of elastic from the Cambridge Academic Content Dictionary © Cambridge University Press)

"elastic" in Business English

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elasticadjective

uk   us   /ɪˈlæstɪk/
ECONOMICS relating to a ​situation in which the ​number of ​productssoldchanges in relation to the product's ​price: We're seeing the elastic ​effect of ​lowercomponentprices encouraging ​demand for ​PCs. Your problem is that you are in an ​exceptionally elastic ​market and your ​prices are simply not the ​lowest. Luxury ​goods are price elastic.
able to ​change when ​conditionschange: International ​law must be elastic enough to ​meet new ​conditionscreated by ​change and ​progress in the ​world.
(Definition of elastic from the Cambridge Business English Dictionary © Cambridge University Press)
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“elastic” in British English

“elastic” in Business English

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There, their and they’re – which one should you use?
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