inelasticity
UK: ˌɪnɪlæsˈtɪsɪti | US: ˌɪnɪlæsˈtɪsəti
n. The property of a material or substance that lacks elasticity; inability to return to original shape after deformation.
n. (Economics) Insensitivity of demand or supply to changes in price.
inelasticity = in<not> + elastic<flexible> + ity<noun suffix>
- in-: Prefix meaning "not" (from Latin in-).
- elastic: Root meaning "flexible" (from Greek elastos via Latin elasticus).
- -ity: Noun-forming suffix indicating a state or condition (from Latin -itas).
Etymology Origin:
The word combines the negative prefix in- with elastic, derived from Greek elastos ("ductile, flexible"), reflecting the concept of resistance to stretching or deformation. The suffix -ity formalizes it as an abstract noun, first appearing in scientific contexts (19th century) to describe rigid materials and later adopted in economics for unresponsive markets.
The inelasticity of the rubber made it unsuitable for shock absorption.
Price inelasticity in healthcare means demand remains stable despite cost increases.
Engineers tested the material’s inelasticity under extreme pressure.
The inelasticity of supply led to shortages during the crisis.
Her theory explained the inelasticity of consumer behavior for essential goods.