Examlex
What's the international language of business?
Price Rises
Occurs when the cost of goods or services increases over a period of time, influenced by factors like inflation, supply and demand imbalances, or increased production costs.
Demand Is Elastic
A condition where the quantity demanded of a good or service is sensitive to changes in its price, illustrating a greater than proportional response.
Total Revenue
The total amount of money generated by the sale of goods or services before any costs are subtracted.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given time period.
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