Liquids:

* Compressibility: Liquids are much less compressible than gases, meaning they resist changes in volume under pressure. This is because their molecules are packed much more closely together.

* Practical Compressibility: While very hard to compress significantly, liquids do experience some compression under extreme pressure. For example, the deep ocean puts enormous pressure on water, causing a slight reduction in volume.

* Applications: The slight compressibility of liquids is used in hydraulic systems, where pressure is transferred through a fluid to exert force.

Solids:

* Compressibility: Solids are even less compressible than liquids. Their molecules are tightly packed in a rigid structure, offering even stronger resistance to compression.

* Elasticity: Solids can deform under stress, but they tend to return to their original shape when the stress is removed. This is called elasticity, not compressibility.

* Exceptions: Some materials, like rubber, are more compressible than others. This is because their molecular structure allows for more movement under pressure.

Key Takeaway:

While both liquids and solids are considered nearly incompressible in everyday situations, it's important to remember that extreme pressures can cause some compression. Additionally, the term "compressibility" is distinct from "elasticity," which refers to the ability to deform and return to the original shape.