Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Goods and services can be either elastic or inelastic. Elastic means the ...

Ali Hussain has a background that consists of a career in finance with large financial institutions and in journalism covering business. Ryan Eichler holds a B.S.B.A with a concentration in Finance ...

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 ...

According to the law of demand, when the price of a product goes up, consumers will buy less of it and vice versa. The concept of elasticity measures how much less consumers will buy when the price ...

The challenge is wrapping your head around the difference between elasticity and inelasticity of demand. Elasticity of demand measures how much the demand for a product or service changes relative to ...