A typical approach to analysing markets for goods or services is to think in terms of supply and demand. Even to those who have not studied economics, the idea that a market equilibrium price and quantity occur where supply equals demand is likely to sound familiar. But there is a more subtle and fundamental concept that often eludes even those who have studied economics: elasticity.
Why staying in a dying industry may be the right choice…
They say a person will have multiple different jobs in their career. But how easy is it to switch into a new role, a new workplace, a new industry? How feasible is to discard your current skills and learn something completely new? Taylor Nugent explores.