Examlex
Foreign countries with very low per capita incomes may still be attractive markets for some goods. To get a more reliable picture of a country's purchasing power, a country's ________ must also be considered.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.
Substitutes
Goods or services that can be used in place of each other; when the price of one goes up, the demand for the other can increase.
Elastic Demands
A market situation where the quantity demanded of a good or service significantly changes in response to a change in price.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price within a specified time period.
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