Examlex
Open-ended questions are typically used with:
Elastic
Describes demand or supply that is highly sensitive to changes in price; a small change in price leads to a large change in the quantity demanded or supplied.
Perfectly Inelastic
Describing a situation where demand or supply does not change in response to changes in price.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price.
Price Elasticity
Quantifying the demand shift for an item in response to its price adjustments.
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