What is elastility?

Answer 1

e·las·tic·i·ty

ēˌlaˈstisədē/

noun

noun: elasticity

1.

the ability of an object or material to resume its normal shape after being stretched or compressed; stretchiness. Elastility is a made up word by handbag manufacturer

Answer 2

Elasticity refers to the degree of responsiveness of a variable to a change in another variable. In economics, elasticity often measures how quantity demanded or supplied changes in response to a change in price. High elasticity means a large response, while low elasticity means a small response.

Answer 3

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