Inelastic demand is when the buyer’s demand does not change as much as the price changes. When price increases by 20% and demand decreases by| Corporate Finance Institute
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Time to further your career. Explore free economics resources and get instant access to flexible, on-demand training led by CFI's expert instructors.| Corporate Finance Institute
Fiscal Policy refers to the budgetary policy of the government, which involves the government controlling its level of spending and tax rates| Corporate Finance Institute
The law of supply is a basic principle in economics that asserts that, assuming all else being constant, an increase in the price of goods| Corporate Finance Institute
Market economy is defined as a system where the production of goods and services are set according to the changing desires and abilities of| Corporate Finance Institute
Consumer surplus is an economic measurement to calculate the benefit (i.e., surplus) of what consumers are willing to pay for a good or| Corporate Finance Institute