Elastic Computing is a cloud computing model that allows resources to be scaled up or down based on demand. This means that businesses can easily adjust their computing power, storage, and other resources without needing to invest in physical hardware. It provides flexibility and cost efficiency, as users only pay for what they use. This technology is particularly useful for applications with fluctuating workloads, such as web hosting or data processing. By leveraging virtual machines and containers, organizations can quickly respond to changes in user traffic or data needs, ensuring optimal performance and resource utilization.