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 ...

American Journal of Agricultural Economics, Vol. 61, No. 3 (Aug., 1979), pp. 463-475 (13 pages) This paper draws out the implications of equilibrium in a two-product, two-factor model for elasticity ...

Some more words on price gouging, as New York and New Jersey are increasingly afflicted by gasoline shortages. There are three issues we need to look at here. One is allocation, one is short-term ...

The degree of producers' responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity ...

Resilience is moving from a reactive afterthought to an embedded real-time capability driven by the confluence of structural ...

The recent wave of sympathy for protectionist policies following the election of Donald Trump and dominant in European countries like Italy and France is nothing new if we look at international trade ...

Super low mortgage rates and a healthy jobs market have supported housing demand. But there aren't enough affordable houses in the US to go around, especially for first-time buyers. The ...

When I heard that Esquire’s “Best Bars in America” feature included a list of D.C. drinking establishments you should check out, I had a moment of panic. Then I read the feature with relief. While the ...