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 ...

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 ...

Stephan Abraham is a marketing manager and winner of multiple vendor partnership awards. He has 18+ years of experience as a stock trader. Suzanne is a content marketer, writer, and fact-checker. She ...

Economists use elasticity of demand to gauge how responsive consumers are to changes in price and income, but investors can also use elasticity of demand to help make more informed investing decisions ...

Learn how variations in price elasticity affect the supply and demand curves and what factors cause differences in elasticity ...

Elasticity is a method of measuring the likelihood of one economic factor affecting another, such as when the price of an item affects consumer demand or when supply affects how much something costs.