1. The quality or state of being elastic; the ability to return to original shape or size after being stretched or compressed.
Usage: Plural form of elasticity; Common in physics and materials science
2. In economics, the degree to which the quantity demanded or supplied of a good responds to changes in price or other factors.
Usage: Economics and business context; Often used in phrases like 'price elasticity' or 'income elasticity'

Examples

• The elasticities of different rubber materials vary depending on their chemical composition.
• Steel has lower elasticities than rubber, making it more rigid.
• Economists study the elasticities of demand to predict how consumers will respond to price increases.
• The price elasticities of luxury goods differ significantly from those of essential goods.
• Understanding elasticities helps businesses set optimal pricing strategies.
• The fabric's elasticities allow it to stretch and return to its original shape.
• Income elasticities show how demand changes when consumer income rises.