Examlex
What are the major issues concerning privacy in the information age? Do you believe the need for homeland security should overrule some of the personal privacy and information rights we have previously taken for granted? Why or why not?
Excise Tax
A tax levied on specific goods or services, such as alcohol, tobacco, and gasoline.
Elastic Supply
A situation where the quantity supplied of a good changes significantly in response to changes in its price.
Elastic Demand
a situation where the quantity demanded of a good or service significantly changes in response to a change in price.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in its price.
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