Examlex
In newborns,which sense is the least similar to an adult's?
Inelastic Demand
When the quantity demanded of a good or service changes very little with a change in price, showing low sensitivity.
Demand
The desire for a particular good or service backed by the ability and willingness to pay for it.
Industrially Advanced Economies
Countries that are highly developed with significant industrial growth, sophisticated technology, and strong infrastructure, typically experiencing high standards of living.
Highly Elastic
refers to the sensitivity of demand or supply to changes in price or other factors, where a small change can cause a significant change in the quantity demanded or supplied.
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