Examlex
Why is denial of discrimination a problem?
Price Inelastic
Describes a situation where the demand for a good is not very responsive to price changes, meaning consumers buy roughly the same amount regardless of price fluctuations.
Necessity
An essential good or service required for basic survival or societal functioning.
Elastic Demand
describes a market situation where the demand for a product significantly changes in response to changes in its price.
Inelastic Demand
A situation where the quantity demanded of a good or service changes little when its price changes.
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