Kevin D.

Recent Posts

Understanding Elasticity of Demand in Economics

Posted by Kevin D. on 9/18/19 11:00 AM

You may have heard in your econ class about a good’s elasticity of demand, or about “elastic” or “inelastic” goods. Consumers’ elasticity of demand is just a fancy way economists talk about how sensitive people are to changes in a good’s price.

Read More

Tags: economics