Examlex
Match the term with the definition.
-Effort in the 1880s to end the spoils system and reduce government corruption. New legislation awarded government jobs under a merit system that required examinations for office and made it impossible to remove jobholders for political reasons.
Availability Of Substitutes
The extent to which similar or alternative products and services are accessible to consumers, influencing their choices and market demand.
Linear Demand
An economic model where demand for a good or service changes proportionately with changes in price.
Unit Elastic
A situation in demand or supply where the elasticity is exactly one, indicating that a change in price results in a proportionate change in the quantity demanded or supplied.
Total Revenue
The total amount of money received by a firm from selling its goods or services.
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