Goods and services can be either elastic or inelastic. Elastic means the product is more sensitive to price changes, such as luxury goods and non-necessary items. Inelastic means the product is less ...

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

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 ...

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 ...