Demand elasticity is a phenomenon where demand for a specific good or service changes depending on factors such as how it is priced, whether alternatives are available or local income trends.

Financial Word of the Day: Hicksian demand refers to the quantity of a good a consumer would purchase after a price change, assuming their utility, or level of satisfaction, is kept constant. In ...

The demand curve is one of the fundamental concepts of economics. It illustrates the relationship between the price of a good or service and the demand for that product, that is, the way a change in ...

Derived demand refers to how changing customer preferences or a changing economy affects business-to-business markets. In fact, whether you own a manufacturing company or small-business retail store, ...

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.