How Do You Spell ELASTICITY?

Pronunciation: [ɪlastˈɪsɪti] (IPA)

The word "elasticity" is spelled with four syllables: /ɪˌlæsˈtɪsɪti/. The first syllable, "e-" is pronounced as "ih," and the second syllable, "-las," is pronounced as "lahs." The third syllable, "-tic," is pronounced as "tik," and the final syllable, "-ity," is pronounced as "ih-tee." "Elasticity" refers to the ability of a material to spring back to its original shape after being stretched or deformed. This word is commonly used in physics, engineering and economics.

ELASTICITY Meaning and Definition

1. Elasticity is a concept primarily used in economics to measure the responsiveness of demand or supply to changes in price or income. It quantifies the degree to which the quantity demanded or supplied of a good or service changes in response to changes in its price.

   In the context of demand, elasticity indicates how sensitive consumers are to changes in price. If demand is highly elastic, it means that a small change in price will result in a proportionally larger change in quantity demanded, indicating that consumers are quite responsive to price fluctuations. Conversely, if demand is inelastic, it implies that changes in price have a relatively small impact on the demand quantity, indicating a less sensitive response.

   For supply elasticity, it measures the sensitivity of producers to changes in price. If supply is elastic, it signifies that producers can easily increase their output in response to a price increase, indicating a high degree of responsiveness. Conversely, if supply is inelastic, it suggests that producers are less likely to significantly alter their production levels in response to price changes.

   Elasticity is typically measured as a ratio of percentage changes, with different types of elasticity including price elasticity of demand, price elasticity of supply, income elasticity of demand, and cross-price elasticity of demand, among others. By understanding the concept of elasticity, economists and businesses can better forecast market behaviors, make pricing decisions, and evaluate the impacts of policy changes on demand and supply.

2. The property of being elastic, or of resuming the original shape upon the cessation of any distorting force.

   A practical medical dictionary. By Stedman, Thomas Lathrop. Published 1920.

3. The power possessed by some bodies of returning to the position from which they are bent, drawn, or pressed; elastic bitumen, a mineral occurring in soft fungoid masses, with a resinous lustre, flexible and elastic.

   Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.

Top Common Misspellings for ELASTICITY *

• elastisity 30.4347826%
• eleasticity 17.3913043%
• elasticiy 17.3913043%
• elasicity 8.6956521%
• electicity 4.347826%

* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.

Other Common Misspellings for ELASTICITY

• elesticity
• eleticity
• elasticy
• elacticity
• plasiticity
• elasticty
• elaticity
• elastcity
• elekticity
• ellasticity
• Elastecity
• elasiticity
• Unelasticitiy
• inealasticity
• Elastickly

Etymology of ELASTICITY

The word "elasticity" has its origins in the Latin word "elasticus", which means "flexible" or "springy". This Latin word itself is derived from the Greek word "elastos", which also means "flexible" or "pliant". Thus, the English word "elasticity" reflects the concept of flexibility, the ability of a material or object to be stretched or compressed and then return to its original shape or size.

Similar spelling words for ELASTICITY

• electricity,
• elasticized,
• elicited,
• elastosis,
• elastance,
• elastin,
• elastic band,
• elastic,
• elasticised.

Plural form of ELASTICITY is ELASTICITIES