Examlex
Explain how price elasticity of demand indicates how total revenue changes when there is a change in price.
Liabilities
Financial obligations or debts that a company or individual owes to others, which need to be settled over time by transferring economic benefits.
Closed-End Funds
A type of investment fund with a fixed number of shares, traded on the stock exchange, unlike open-end funds which continuously issue new shares.
Premium
The amount by which the price of a financial instrument, such as an insurance policy or bond, exceeds its face value or nominal cost.
NAV
Net Asset Value; the total value of a fund's assets minus its liabilities, often used in the context of mutual funds.
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