elasticity

UK /ɪ.læsˈtɪs.ɪ.ti/ US /ɪ.læsˈtɪs.ɪ.ti/
noun 5

Definitions

noun

1

The property by virtue of which a material deformed under load can regain its original dimensions when unloaded

2

The sensitivity of changes in a quantity with respect to changes in another quantity.

If the sales of an item drop by 5% when the price increases by 10%, its price elasticity is −0.5.

Given elasticity of demand, there is a strong argument that filling the millions of empty seats through lower fares could actually increase revenue.

3

A measure of the flexibility of a data store's data model and clustering capabilities.

4

A system's ability to adapt to changes in workload by automatically provisioning and de-provisioning resources.

5

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.

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