In economics, price elasticity is a measure of how reactive the marketplace is to a change in price for a given product.

Do not assume that if you lower your prices, demand will increase enough to make up the difference in income you will receive for products and services. Also, you should not assume that if you raise ...

Economics is a social science that studies the collection, allocation and distribution of economic resources. Business owners use the study of economics to help them make business decisions. Not only ...