Welcome to CW Economics!

The study of economics is challenging and rewarding. Use this site to check up on topics covered, homework assigned, and assignments given.

Upcoming Assignments and Tests

  • Grade 12 Book Club Monday, January 16. Journals due Tuesday, January 17
  • Grade 12 essays due Tuesday, January 24 at 10:24am (2 COPIES)
  • Grade 11 Final Summative Game due Tuesday, January 24 at beginning of class.
  • Monetary Policy - Interest Rates due Tuesday, January 10
  • Banking Assignment due Friday, December 23

Sunday, November 6, 2016

What is elasticity of supply?

Elasticity of supply refers to the change in quantity supplied in response to a change in price.

Firms who produce products with elastic supply can increase or decrease their production levels quickly and easily.  Examples are telemarketing firms or candy companies.

Firms who produce products with inelastic supply cannot change their quantity supplied quickly.  Examples are perishable goods.
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