Examlex
______ proposed that the three types of coral reefs are related to each other by subsidence of a central volcanic island.
Inelastic
A characteristic of a good where its demand does not significantly change with changes in price.
Percentage Change
A mathematical calculation that describes the relative change between an old value and a new value, expressed as a percentage.
Unit Elastic
A situation in demand or supply where a change in price leads to an equal proportionate change in quantity demanded or supplied.
Approximately Unit Elastic
A situation in economics where the percentage change in quantity demanded is roughly equal to the percentage change in price, indicating an elasticity of demand close to one.
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