Explain what an elasticity is and what it measures. What might be an example of a more elastic good? What might be an example of a more inelastic

Explain what an elasticity is and what it measures.

• What might be an example of a more elastic good?
• What might be an example of a more inelastic good? Explain why.
• What importance do you feel it is for firms to understand the elasticity of their products they are selling?

• If you were going to invest money, given the current financial market status, where would you invest your money today?
• What are some possible investment choices for you as an individual?
• What factors influence your decision on what to invest in?
• How does the economic climate affect what you invest in?

• Fully explain what that characteristic means and what its importance is to classifying a market as perfectly competitive.
• If you have noticed this characteristic in a certain market, explain where you have seen it before or provide your own example.
• Would you see the characteristic you are discussing in any of the other three market structures - monopolistic competition, oligopoly or monopoly?
• Why or why not?

Please provide a preference