The quality or state of being elective; the capacity or tendency to select or choose.
From 'elective' plus the abstract noun suffix '-ness'. This formation follows standard English patterns for creating abstract nouns from adjectives. It's a rare word that emphasizes the abstract quality of selectivity.
Abstract nouns ending in '-ness' are some of the oldest word-formation patterns in English—they go back to Old English. Words like 'electiveness' are perfectly grammatical, but they're relatively unused because we prefer shorter synonyms like 'choice' or 'selection'.
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