Economics is a social science that studies the collection, allocation and distribution of economic resources. Business owners use the study of economics to help them make business decisions. Not only ...

Determining the right price for your products and services in support of your value proposition is one of the most important decisions your business will make, and one of the most critical business ...

Price elasticity has occupied a prime spot in marketing theory for a long time now, in part because its simplicity and elegance are so appealing. It is comforting to recall the basic principle from ...

In the year 2000, supply chain optimization software companies were hot. Optimization was the new Messiah that would lead supply chain practitioners out of the desert. Wall Street agreed. They put a ...

A small business can use elasticity to determine which products it can raise prices on and which prices should have lower prices. If a product has elastic demand, it means your customers buy it even ...

The economic concept, which describes consumers’ sensitivity to prices, is a hot topic as inflation soars and executives fret about profits. By Jason Karaian and Veronica Majerol S&P 500 company ...