Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Goods and services can be either elastic or inelastic. Elastic means the ...

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 ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Microeconomics is one of the major focus areas within the academic field of economics. While the scope and methods of microeconomics can be complex, its overall focus is relatively straightforward.

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 ...