Examlex
Is there anything Texas can do to limit the impact of large campaign donors without limiting free speech?
Elastic Demand
A situation where the quantity demanded of a product changes significantly when its price changes.
Inelastic Demand
A situation where the demand for a product does not change significantly in response to a change in its price.
Income Elasticity
A measure that shows how a change in income affects the demand for a good or service.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
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