Meaning of “elasticity” in the English Dictionary

british dictionary

"elasticity" in British English

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elasticitynoun [ U ]

uk /ˌi.læsˈtɪs.ə.ti/ us /ˌi.læsˈtɪs.ə.t̬i/

(Definition of “elasticity” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"elasticity" in Business English

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elasticitynoun [ U ]

uk /ˌɪlæsˈtɪsəti/ us

ECONOMICS the ability of something, such as the number of products sold, to change in relation to something else, such as the product's price:

This chart shows the relationship between the elasticity and the optimal monopoly price for Windows.

(Definition of “elasticity” from the Cambridge Business English Dictionary © Cambridge University Press)

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