Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

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 ...

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.

Consumer demand fluctuates constantly, for many reasons. To discuss the effects of a specific factor on demand, economists use the term "elasticity" to describe how responsive consumers are. The more ...

Microeconomics and macroeconomics are two distinct branches of economics. Microeconomics focuses on individuals and groups, including companies, while macroeconomics looks at the behavior of national ...

Meaning of microeconomics and macroeconomics; positive and normative economics. What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production ...

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.