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Supply and Demand

An economics term that refers to the relationship between the supply of goods and the demand for those same goods.

Elasticity in Economics

02/01/2015

One of the terms synonymous with the field of economics is ‘Elasticity’.  The term refers to the change in either the demand or supply (the other terms synonymous with economics) curve when there is a change in the price.  In general, if the [...]