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clarification
'''Elasticity''' addresses the responsiveness of quantity demanded (or supplied) to changes in price, income, or price of other goods. For example, the price elasticity of demand is computed as percentage change in quantity divided by percentage change in price.
'''Elasticity''' is the ratio of percentage changes of two variables. In economics, it is most commonly applied to measure the responsiveness of quantity demanded (or supplied) to changes in price, income, or price of other goods. For example, the price elasticity of demand is computed as percentage change in quantity divided by percentage change in price.
Elasticity may also refer to the stretchiness of a particular object, such as a [[rubber band]].
Elasticity may also refer to the stretchiness of a particular object, such as a [[rubber band]].