elasticity
IPA: iɫæstˈɪsʌti
noun
- (physics) The property by virtue of which a material deformed under load can regain its original dimensions when unloaded
- (economics) The sensitivity of changes in a quantity with respect to changes in another quantity.
- (computing) A measure of the flexibility of a data store's data model and clustering capabilities.
- (computing) A system's ability to adapt to changes in workload by automatically provisioning and de-provisioning resources.
- (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.
- The quality of being elastic.
- Adaptability.
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Examples of "elasticity" in Sentences
- The essence of elasticity is reversibility.
- This occurs because of the elasticity of the string.
- The age-adjusted intergenerational wealth elasticity is 0.37.
- It's elasticity contributes to the flexibility and resilience of the discs.
- The inverse of elasticity of complementarity is elasticity of substitution.
- The inverse of elasticity of substitution is elasticity of complementarity.
- This suggests price elasticity is inversely related to sales volume, for me.
- Above the point of unitary elasticity is the elastic range of the demand curve.
- The elasticity is surely affected by the velocity (pardon the pun) of gas price increases.
- The more common substitute and better measure of elasticity is the amount of gasoline actually used.
- Further, he points out that respondents were using demand signals, though the term elasticity might not have been used.
- And with commodities, the short-term elasticity of demand is low, so typically, only a massive price shift can induce even a small change in demand.
- And if the charges are not billed on a continual basis, there are no price signals, and the price elasticity is much weaker, so the idea that you charge this with auto registration is absurd.
- That said, it seems to me that there has been a sustained run-up in average fuel costs in the last 7-8 years, and I would be interested in knowing whether that had any impact on utilization or whether the long-term empirical elasticity is as poor as the (presumably) short-term 10%-1% ratio.
- Pretinieks writes: it might rather depend on relative, not absolute popularity. if your book generates more media buzz than your previous one, a lot of prospective buyers are "first-time users" and haven't heard of you before. where there's no "brand loyalty", price elasticity is higher. to test this, you'll need to write another book of roughly the same popularity.