Coefficient of Elasticity

The Coefficient of Elasticity measures how responsive one variable is to changes in another. In economics, for example, it shows how demand for a product changes when its price changes. A high coefficient means that even a small price change leads to a significant change in demand. In engineering, it can describe how a material stretches or compresses when force is applied. Overall, it's a useful tool to understand relationships and predict behavior in various fields, from economics to physics, reporting how flexible or sensitive one factor is in relation to another.