The degree to which changes in price translate into changes in demand and supply is known as the product's price elasticity. Demand for basic necessities is relatively inelastic. It's less ...

The proposed Big Tent Coalition Shadow Government by erudite Professor of Political Economics, Pat Utomi, has elicited a lot of interest, such that the State Security Service (SSS) has threatened ...

Scientists and engineers at the University of Nottingham have measured the stiffness of space rock for the first time. Many meteorites are made of crystalline materials, formed under exotic ...

On an economic level, it can also be related to the price elasticity of supply and demand. When supply is more elastic than demand, the tax burden falls on the buyers. If demand is more elastic ...

Definition: Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, ...

CC Home Principles of Microeconomics EC101 - Principles of Microeconomics An introduction to the principles of microeconomics with emphasis on decision-making by households and firms, the way in which ...