Examlex
Thirst, sexual desire, and hunger are examples of __________ drives.
Price Elasticity of Demand
The rate at which demand for a product responds to its price being altered.
Short Run
The period in economic theory during which at least one factor of production is considered fixed.
Long Run
A period in which all factors of production can be varied, and no inputs are fixed.
Demand Inelasticity
A situation where the demand for a product does not change significantly with a change in its price.
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