Although CPAs have specific education and experience requirements, regular accountants do not. That means students have the opportunity to study in any number of related fields and still be eligible to fill accounting positions. Here are five popular degree options for accountants.
If the demand increases, and the supply remains the same, there will be a shortage. This will mean the price will increase. If the demand decreases, and the supply remains the same, there will be a surplus. This will mean the price will go down.
Inelastic Demand Curves. If the demand for an item changes proportionately less than the price changes, then the item is price inelastic. For example, a demand curve is inelastic if the price of an item increases by 1 percent and purchases decrease by half a percent. Demand curves for items that people need to survive, such as staple foods, are inelastic, because people will buy the items regardless of price.