noun
- the quality or state of not being elastic; lack of elasticity or flexibility
- in economics, the condition in which demand or supply does not respond proportionally to changes in price
Usage: technical; formal
Usage: economics; technical
Examples
- The nonelasticity of the rubber band made it unsuitable for the experiment.
- The material's nonelasticity prevented it from returning to its original shape after being stretched.
- Economists studied the nonelasticity of demand for essential goods during the price increase.
- The nonelasticity of the steel beam made it ideal for structural support.
- Due to the nonelasticity of the policy, the company could not adapt quickly to market changes.
- The nonelasticity of supply in the housing market contributed to rising prices.