Examlex
The work of which admiral and cartographer provided the foundation for important Ottoman gains in the Red Sea and Indian Ocean?
Demand
The desire and ability of consumers to purchase goods and services at given prices.
Perfectly Elastic
Describes a situation in economics where the demand or supply for a product can vary infinitely with a small change in price.
Inelastic
A situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price.
Perfectly Elastic
Describes a situation where the quantity demanded or supplied changes infinitely in response to any change in price.
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