Young's modulus is applicable only within the elastic limit of a material, which is defined by the yield stress, beyond which ultimate strength becomes relevant. Ultimate strength indicates the maximum stress a material can withstand before failure, while Young's modulus describes the linear relationship between stress and strain in the elastic region. The elastic limit is determined experimentally, typically through tensile tests that measure stress and strain until fracture occurs. For design purposes, it is crucial to keep stresses below the yield stress, often adjusted by a safety factor. Understanding these concepts is essential for evaluating material behavior under different loading conditions.