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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

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 ...

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 ...