Examlex
Which of the following is NOT an example of an agent of socialization.
Demand
The willingness and ability of consumers to purchase goods or services at various price levels.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with elasticity greater than one indicating a responsive market.
Inelastic
Describing a situation where a change in the price of a good or service has a relatively small effect on the quantity demanded or supplied.
Price Elasticity
The responsiveness of the quantity demanded or supplied of a good to a change in its price, commonly referred to in economics as price elasticity of demand or supply.
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