Examlex
Two manufacturers were discussing the upcoming trends in the business market. One kept referring to the market as the 'business market,' while the other interrupted him and said: "when you refer to the business market, you are referring to the _________."
Elasticity
The indicator of the responsiveness of the demand or supply of a product to shifts in key factors like price or income.
Perfectly Elastic
A perfectly elastic demand or supply refers to a situation where the quantity demanded or supplied changes infinitely in response to any change in price, represented by a horizontal line on a graph.
Tax Burden
The measure of taxes that an individual or business is required to pay, expressed as a percentage of income or profit.
Tax Increase
A rise in the rate at which individuals or businesses are taxed by the government.
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