To calculate the Consumer Price Index between two years in Excel, take a sum of all the amounts spent on the basket of products over those two years. Then use the following formula to find the CPI ...

According to the law of demand, when the price of a product goes up, consumers will buy less of it and vice versa. The concept of elasticity measures how much less consumers will buy when the price ...

In economics, demand is the market force that decides how many units of a particular product or service buyers will purchase at a particular price. Labor is the work people in a particular market do ...

Sometimes external forces in the economy throw the supply and demand for a product or service out of whack. Trade quotas are a common and powerful example of one such external force. One way ...

Measuring the inefficiencies created from import quotas. Sometimes external forces in the economy throw the supply and demand for a product or service out of whack. Trade quotas are a common and ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Erika Rasure is globally-recognized as ...

One fundamental concept in economics is that supply and demand determine price. The greater the amount of supply of a product or service that's available and the less demand there is for it, the lower ...

Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Katharine Beer ...