Elasticity

In a previous article Supply, demand and market equilibrium we discussed the relationship between supply, demand and price.  We also saw how governments and companies often try to manipulate the price in Rationing and allocating resources.

But how much can a price be manipulated before consumers stops buying the product. How much will demand change in response to changes in price.  We can calculate the magnitude of change with the elasticity formula.

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Types of managers

In any organisation, a variety of functions are carried out in order to do business.   In larger organisations we have different types of managers who are responsible for different areas.  For example you may have an Human Resources manager who is responsible for planning, organizing, activation and control specific to the companies manpower needs.

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