The concept of the "invisible hand" was invented by the Scottish Enlightenment thinker, Adam Smith. It refers to the invisible market force| Corporate Finance Institute
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
Budgeting is the tactical implementation of a business plan. To achieve the goals in a business’s strategic plan, we need some type of budget| Corporate Finance Institute
Substitute products offer consumers choices when making purchase decisions by providing equally good alternatives, thus increasing utility.| Corporate Finance Institute
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