Examlex
What does the process of "positioning" involve?
Price Elasticity of Supply
A measure of how much the quantity supplied of a good responds to a change in the price of that good, quantitatively defined as the percentage change in quantity supplied divided by the percentage change in price.
Incidence
The allocation or impact of a tax or policy on the economic activities or welfare of different groups in society.
Elastic
Describes a situation in which the quantity demanded or supplied of a good or service is highly responsive to changes in price.
Inelastic
Describes a situation where the demand or supply for a product does not significantly change with the price's increase or decrease.
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