Elasticity of demand is an economics concept that relates to the relative change in quantity demanded that's associated with a price change for a product. A product has high elasticity when a price ...

The automobile industry includes companies involved in the production, marketing and maintenance of automobiles. According to the U.S. Bureau of Labor Statistics, the automobile and parts ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Michael Boyle is an experienced financial professional with more than 10 years ...