Comments on: Price Elastic Products – Are There any benefits? http://www.economicshelp.org/blog/business/price-elastic/ Economics Blog - current events and economics essays Mon, 15 Mar 2010 10:06:19 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: fifi http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-4806 fifi Fri, 30 Oct 2009 07:56:37 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-4806 can u Tell me the difference between elastic and inelastic demand. what is the difference between these two things? which products are elastic and which are inelastic ?give examples from our every day life. can u Tell me the difference between elastic and inelastic demand.
what is the difference between these two things?
which products are elastic and which are inelastic ?give examples from our every day life.

]]> By: Michael Zimmerman http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-4215 Michael Zimmerman Mon, 14 Sep 2009 02:26:12 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-4215 Judy Edwards - You know, I actually have this exact question as an essay in my Economics homework. In all fairness, I will end up citing this work, as it is the only information I've found outside of our text about this topic (and we have an extensive academic full-text search available through the online library). I definitely suggest anyone thinking of using this as an "answer" actually read their text and understand the concepts being discussed here, however, as the broken English used makes the information practically useless unless you already understand it or are planning to copy and paste. Those planning to copy and paste should also be prepared to fail the assignment for being unable to write complete sentences and to be expelled for plagiarism. Judy Edwards – You know, I actually have this exact question as an essay in my Economics homework. In all fairness, I will end up citing this work, as it is the only information I’ve found outside of our text about this topic (and we have an extensive academic full-text search available through the online library). I definitely suggest anyone thinking of using this as an “answer” actually read their text and understand the concepts being discussed here, however, as the broken English used makes the information practically useless unless you already understand it or are planning to copy and paste. Those planning to copy and paste should also be prepared to fail the assignment for being unable to write complete sentences and to be expelled for plagiarism.

]]> By: Wojciech Paciorek http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-3867 Wojciech Paciorek Tue, 21 Jul 2009 06:42:43 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-3867 Hey, I am a student of ECON312 in DeVry University Online. I would like to hear from your feedback and sharing comment. I am going to copy my research paper with that question. Yes, I know some students are doing illegally to copy and paste without LEARNING. I always put the citation or APA format to allow Professor knows what I found. I added my own words as 100 words minium. Thank you... Enjoy my work below: Assignment: Week 2 Question: When would you want to own a business that sells price elastic products? Why? Write your individual answer to the question listed above minimum 100 words in APA style, using correct economic terms covered in the discussions. You must use at least one article. Note: The textbook is not an article and cannot be the ONLY source for the assignments. Use the DeVry Library as a resource for finding your references. I would like to discuss shortly about the Price Elastic. I found the good source for my research and study someone’s work to help me to understand the difference. Give me wisdom to write about my America Dream of Opening Business. Price elastic products mean that an increase in price will cause a bigger percent fall in demand. Therefore, presumably they offer less scope for increasing price. Elastic products suggest the good is in a competitive market and therefore it is more difficult to make profits. If demand was price inelastic a firm could put up prices and make profits. This is the case of monopoly (2008). My America Dream of Opening Business-Cafe I have a dream to open the small Café for the deaf community. It also welcomes the hearing community. However, I have to order the finest beans from Columbia. I order the 10 pounds of coffee for twenty dollars of “Columbia Coffee”. It would be cheaper for me to pay. I sell it for higher price as more profit. However, I prefer inferior goods because of the cheapest thing for me to order and import the Columbia coffee. Thereof, I would increase the price as same as Starbucks because none of the customers would know that coffee beans are from the frozen (inferior goods) or fresh (normal goods). Finally, it is depending on how many customers to buy the coffee. If more customers as order more coffee beans (pounds) are very important for the economic business better. Prices VS Quantity is very important to know which they can be elastic or inelastic demands. If I put the coffee cups, a higher price to sell as called an inelastic demand. It may be profitable or not. If I put a standard price for that coffee cups, it would be elastic demand that many customers buy as more quantity to order the inferior goods (cheap) cost for me as a businessperson. Thank you… Reference: (2008, March 20). Price Elastic Products - Are There any benefits? Retrieved July 21, 2009, from Economics Help Web site: http://www.economicshelp.org/blog/business/price-elastic/ Hey,

I am a student of ECON312 in DeVry University Online. I would like to hear from your feedback and sharing comment. I am going to copy my research paper with that question. Yes, I know some students are doing illegally to copy and paste without LEARNING. I always put the citation or APA format to allow Professor knows what I found. I added my own words as 100 words minium.

Thank you…

Enjoy my work below:

Assignment: Week 2

Question: When would you want to own a business that sells price elastic products? Why?
Write your individual answer to the question listed above minimum 100 words in APA style, using correct economic terms covered in the discussions. You must use at least one article. Note: The textbook is not an article and cannot be the ONLY source for the assignments. Use the DeVry Library as a resource for finding your references.

I would like to discuss shortly about the Price Elastic. I found the good source for my research and study someone’s work to help me to understand the difference. Give me wisdom to write about my America Dream of Opening Business.
Price elastic products mean that an increase in price will cause a bigger percent fall in demand. Therefore, presumably they offer less scope for increasing price. Elastic products suggest the good is in a competitive market and therefore it is more difficult to make profits. If demand was price inelastic a firm could put up prices and make profits. This is the case of monopoly (2008).

My America Dream of Opening Business-Cafe
I have a dream to open the small Café for the deaf community. It also welcomes the hearing community. However, I have to order the finest beans from Columbia. I order the 10 pounds of coffee for twenty dollars of “Columbia Coffee”. It would be cheaper for me to pay. I sell it for higher price as more profit. However, I prefer inferior goods because of the cheapest thing for me to order and import the Columbia coffee. Thereof, I would increase the price as same as Starbucks because none of the customers would know that coffee beans are from the frozen (inferior goods) or fresh (normal goods). Finally, it is depending on how many customers to buy the coffee. If more customers as order more coffee beans (pounds) are very important for the economic business better. Prices VS Quantity is very important to know which they can be elastic or inelastic demands. If I put the coffee cups, a higher price to sell as called an inelastic demand. It may be profitable or not. If I put a standard price for that coffee cups, it would be elastic demand that many customers buy as more quantity to order the inferior goods (cheap) cost for me as a businessperson.
Thank you…

Reference:
(2008, March 20). Price Elastic Products – Are There any benefits? Retrieved July 21, 2009, from Economics Help Web site: http://www.economicshelp.org/blog/business/price-elastic/

]]> By: zgeni http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-3861 zgeni Mon, 20 Jul 2009 00:56:11 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-3861 Thanks John B. Thanks John B.

]]> By: zgeni http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-3860 zgeni Mon, 20 Jul 2009 00:55:11 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-3860 Judy I can relate to your statement, but as an economic student the fact that someone asked the question to see what others may think or have to share on the topic is also considered a form of research. Perhaps the answer received is one that prompted the student to think at greater depths as it did for me. No I won't write without giving credit where credit is due. Judy I can relate to your statement, but as an economic student the fact that someone asked the question to see what others may think or have to share on the topic is also considered a form of research. Perhaps the answer received is one that prompted the student to think at greater depths as it did for me. No I won’t write without giving credit where credit is due.

]]> By: John B http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-3831 John B Wed, 15 Jul 2009 01:33:16 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-3831 Well Dr.Judy , Students may be researching questions they have about this topic but did it ever occur to you that we as students know we cannot copy this material or it will be plajurism. Do you think we are that stupid ? Amazing that you have reached Doctorate status thinking people would open themself up to this. Thank you for the information. You helped clear some gray areas for me ! Well Dr.Judy ,
Students may be researching questions they have about this topic but did it ever occur to you that we as students know we cannot copy this material or it will be plajurism. Do you think we are that stupid ? Amazing that you have reached Doctorate status thinking people would open themself up to this.
Thank you for the information. You helped clear some gray areas for me !

]]> By: Dr. Judy Edwards http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-3483 Dr. Judy Edwards Mon, 18 May 2009 20:13:18 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-3483 Did you know that students are asking you to answer their essay questions for them instead of doing the research on their own? This is unethical on their part and I'm sure a bit of a surprise to you. Did you know that students are asking you to answer their essay questions for them instead of doing the research on their own? This is unethical on their part and I’m sure a bit of a surprise to you.

]]> By: Nishta http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-3147 Nishta Wed, 08 Apr 2009 06:57:41 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-3147 a business sells a product whose demand is relatively price inelastic. what is the effect on sales and revenue of a price increase? a business sells a product whose demand is relatively price inelastic. what is the effect on sales and revenue of a price increase?

]]> By: Than Win http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-2303 Than Win Sun, 11 Jan 2009 05:22:49 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-2303 affordable ( lower value) items are more price sensitive than the valuable items such as gold and jewellery. A wife spent more bargaining time at vegi shop than at the goldsmith ? affordable ( lower value) items are more price sensitive than the valuable items such as gold and jewellery. A wife spent more bargaining time at vegi shop than at the goldsmith ?

]]> By: Elasticity and Temporary Price Rises. | Economics Blog http://www.economicshelp.org/blog/business/price-elastic/comment-page-1/#comment-672 Elasticity and Temporary Price Rises. | Economics Blog Sat, 22 Mar 2008 17:23:29 +0000 http://www.economicshelp.org/blog/business/price-elastic/#comment-672 [...] OK, I have a question for you. This was the example which popped to mind as I was reading your entry. (price elastic products) [...] [...] OK, I have a question for you. This was the example which popped to mind as I was reading your entry. (price elastic products) [...]

]]>