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 an increase in price causes an increase in total revenue, then the demand is inelastic. Just like baby formula or milk, the increase in price does not have a large impact on the quantity demanded. On the contrary, if an increase in price causes a decrease in total revenue, then the demand can be said to be elastic.