elaˈsticity

/ ɪlæˈstɪsɪtɪ; ˌiːlæ- /

noun

1. the property of a body or substance that enables it to resume its original shape or size when a distorting force is removed See also elastic limit
2. the state or quality of being elastic; flexibility or buoyancy
3. a measure of the sensitivity of demand for goods or services to changes in price or other marketing variables, such as advertising