Price elasticity of demand is a consumer's receptiveness to the change of a price in a good or service. In essence what this means is that a consumer has certain expectations in regards to goods or services he or she wishes to purchase. There are certain goods or services that a consumer will purchase regardless how much they are. This usually occurs when the item is a necessity and an alternative is not available. This …showed first 75 words of 611 total…

…showed last 75 words of 611 total…they all have the same hiring practices for the most part. If I could get my company to send me qualified personnel, I could provide the client with a certain level of service that they demand. There is an old saying that is very true. You cannot make a silk purse out of a sow's ear. References Douglas A. Ruby. (2003, January 17) Price Elasticity of Demand. Retrieved on November 4, 2004 from http://www.digitaleconomist.com/elasticity.html