Elasicitate

Elasicitate, commonly spelled elasticitate in standard Romanian, refers to the property of a substance to deform under load and to recover its original shape when the load is removed. The term is used mainly in physics, materials science, and economics, where it denotes different but related notions of responsiveness.

In physics and engineering, elasticity describes reversible deformations. For small deformations, stress is proportional to strain (Hooke's law). Materials have elastic limits; within the elastic range, deformation disappears when the load is removed. Elastic properties are quantified by elastic moduli such as Young's modulus, shear modulus, and bulk modulus, and by Poisson's ratio. Viscoelastic materials exhibit time-dependent behavior, showing partial recovery even after some permanent deformation; their response is described by models with springs and dashpots. The term 'elastic' is distinguished from 'plastic' behavior, where permanent deformation remains.

In economics, elasticity describes the responsiveness of one variable to changes in another. Price elasticity of demand measures how quantity demanded changes with price; price elasticity of supply measures quantity supplied changes with price; income elasticity describes changes with income. Elasticities are typically unit-free and computed as the percentage change in one variable divided by the percentage change in the other. They aid in understanding demand sensitivity, revenue effects, tax incidence, and firm pricing. Factors affecting elasticity include availability of substitutes, necessity versus luxury, proportion of income, and consumer time horizon.

Common references and mis-spelling: 'elasicitate' is a misspelling of 'elasticitate'. The concept applies across disciplines, but definitions are specific to context.