In order for a small-business order to price her products or services correctly, she must be able to understand what impact that price will have on demand. In some cases, demand will rise or fall with ...

Elasticity is an economic concept that demonstrates the effect of a product price change on demand. For example, a product such as milk is an inelastic product, since a price change will not ...

the notable demand alteration that occurs when an economic factor - such as the price of the good or service - changes. Elastic demand, as mentioned above, is the considerable change in the ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...