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Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Fasteasytrade.com is a(n) _____.
Elastic
In economics, it describes a situation where the supply or demand for a good or service changes significantly when its price changes. High elasticity indicates that a slight price change could lead to a significant change in quantity demanded or supplied.
Percentage Change
A mathematical calculation that represents the degree of change over time, expressed as a percentage, to compare changes in quantities or measures.
Total Revenue
The comprehensive amount of financial earnings a company gathers from its sales and services over a designated period.
Elastic Demand Curve
A demand curve that indicates a high responsiveness or sensitivity of quantity demanded to a change in price.
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