Examlex
What is the focus of cognitive psychology?
Price-Inelastic
Describes a situation where the demand for a product does not significantly change with a change in its price.
Price-Elastic
A characteristic of a good or service that indicates the demand for it changes significantly when its price changes.
Demand Pay
Compensation determined by the desirability or demand for specific job skills in the labor market.
More Elastic
Refers to a greater sensitivity or responsiveness of the quantity demanded or supplied to changes in price, indicating a more noticeable shift in consumer or producer behavior in response to price fluctuations.
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