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.
If demand is elastic, it simply means that consumers will buy more of a product when the price comes down. They will buy less when the price goes up. Yes. There are other reasons why consumers increase or decrease consumption, but price is a fundamental driver of demand.