Economists often use demand curves to illustrate the fluid paradigm of consumer demand in a particular market. Small-business owners also can use demand curves to understand consumer behavior. For ...

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 ...

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 ...