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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Price Elasticity

Price Elasticity

Q What is your breaking point for purchasing the following: gasoline, Starbucks, and your current tuition?

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Price elasticity can be considered as a perfect measure for responsiveness of demand or the supply of services, or goods to changes in the process of it. The tuition and gasoline prices are constantly increasing. It is high time to think whether it is the time to turn back or to move on in order to purchase those products and services. My breaking point for purchasing gasoline is 2.9% whereas I can go beyond my breaking point for obtaining current tuition as it is needed for my further education.