Examlex
When a person buys a product for emotional reasons, the need is ________.
Elastic Demand
Elastic demand indicates a scenario where a slight change in price leads to a substantial shift in the volume of the product demanded by consumers.
Resource Utilization
The efficient and effective use of resources, such as labor, capital, and materials, to produce goods and services.
Final Product
The end item or output that is ready for sale to consumers, having passed through all stages of production.
Derived Demand
The demand for a factor of production or intermediate good that occurs as a result of the demand for another related good or service.
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