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.
1 Therefore, a one percent increase in price will result in a .25 percent decrease in quantity demanded. 2  This wine is relatively inelastic when the price is $20. 3  When the price is $50, the elasticity of demand is -1. 4  Therefore, a one percent increase in price will result in a 1 percent decrease in quantity demanded.