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Which of the Following Will Have the Most Elastic Demand

question 114

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Which of the following will have the most elastic demand?


Definitions:

Trade Sector

Refers to the part of a country's economic activity that is involved in the exchange of goods and services, domestically and internationally.

Economy

The system of production, distribution, and consumption of goods and services in a particular geographical region.

Exports

Goods or services that are produced in one country and sold to customers in other countries.

Tariff

A tax on imported goods, usually designed to protect domestic industries and to generate revenue.

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