Polarizability is the ability to form instantaneous dipoles. It is a property of matter. Polarizabilities determine the dynamical response of a bound system to external fields, and provide insight into a molecule's internal structure. In a solid, polarizability is defined as the dipole moment per unit volume of the crystal cell.
Electric polarizability is the relative tendency of a charge distribution, like the electron cloud of an atom or molecule, and consequently of any material body, to have its charges displaced by any external electric field, which in the uniform case is applied typically by a charged parallel-plate capacitor.
The polarizability in isotropic media is defined as the ratio of the induced dipole moment of an atom to the electric field that produces this dipole moment.