the notable demand alteration that occurs when an economic factor - such as the price of the good or service - changes. Elastic demand, as mentioned above, is the considerable change in the ...

A business' demand for a good is based on the price of the good. When prices rise, the business will buy less of the good. When prices drop, the business will purchase more of the good. A business' ...

Add Yahoo as a preferred source to see more of our stories on Google. Economists use elasticity of demand to gauge how responsive consumers are to changes in price and income, but investors can also ...

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 ...

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 ...