Elasticity . . . … is a measure of how much buyers and sellers respond to changes in market conditions … allows us to analyze supply and demand with greater precision
In a free, unregulated market system, market forces establish equilibrium prices and exchange quantities. While equilibrium conditions may be efficient, it may be true that not everyone is satisfied
Unit Two Culture Unit Three Copyright Unit Four Language and Economy Unit Five Business Ethics Unit Six Psychological Health Unit Seven Hopes and fears for the Future Unit Eight Globalization – For and Against
