Examlex
Streamlining the processes and communications between the buyer and supplier using software applications that enable these processes to be managed more efficiently and effectively can be referred to as:
Economic Theory
A set of principles that explain how economic processes work, guiding the analysis of economic behavior and decision-making.
Relatively Inelastic
Term indicating that the demand or supply for a good or service changes only slightly in response to changes in price.
Percentage Increase
A mathematical calculation to determine the relative growth of a value by a certain percentage.
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to indicate that other variables remain constant during an analysis.
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