Elastic vs. Inelastic Demand Explained: Real-Life Examples & Stats
Posted on October 8, 2025 by Edwin Schneider
Ever wonder why that tiny bump in the price of your favorite latte suddenly makes you rethink your morning routine, but a jump in gas prices barely changes how much you drive? It’s a bit strange, right? That’s the magic—well, the logic—behind something economists call elasticity of demand. It basically shows how we, as buyers, […]