Which Joe gave his name to ‘sloppy joes’? We look at five interesting sandwiches and their lexical origins.
[mass noun] A measure of the effect of a price change or a change in the quantity supplied on the demand for a product or service.
- ‘Look for services with high fixed costs, price elasticity - meaning that consumers will typically buy more if prices drop - and the ability to be ordered over the Internet.’
- ‘The telecommunications sector exhibits strong price elasticity of demand.’
- ‘If the company assumes that price elasticity of demand is close to perfectly inelastic, it can charge what it likes.’
- ‘On the demand side, agricultural products have a very low price elasticity.’
- ‘For instance, when you're selling spare parts one at a time, there's a lot of price elasticity there; customers need these parts right away if their machines are down.’
Are you looking for a word for a foolish person? We explore twelve interesting words to describe the dunderheads in your life.
Before you run for the hills, let’s run through a list of ‘run’ expressions that are running through our minds.
The definitions of ‘buddy’ and ‘bro’ in the OED have recently been revised. We explore their history and increase in popularity.