Elasticity (physics)

Mechanics

Laws Conservation of mass Conservation of momentum Conservation of energy Entropy inequality Solid mechanics Solids Stress · Deformation Compatibility Finite strain · Infinitesimal strain Elasticity (linear) · Plasticity Bending · Hooke's law Failure theory Fracture mechanics Frictionless/Frictional Contact mechanics Fluid mechanics Fluids Fluid statics · Fluid dynamics Surface tension Navier–Stokes equations Viscosity: Newtonian, Non-Newtonian Rheology Viscoelasticity Smart fluids: Magnetorheological Electrorheological Ferrofluids Rheometry · Rheometer Scientists Bernoulli · Cauchy · Hooke Navier · Newton · Stokes

Economic elasticity is at elasticity (economics)

Something that is elastic can be stretched or deformed (changed) and returned to its original form, like a rubber band. It tries to come back to its first shape. The strain is how much the shape is changed.

This idea was first suggested by Robert Hooke in 1675.