Examlex
Match the term with the definition:
-The rate of infant deaths (from live birth to 1 year) per 1,000 live births
Less Elastic
Describes a situation where the demand or supply for a product or service is relatively unresponsive to changes in price.
Perfectly Inelastic
A situation where the demand or supply for a good does not change in response to changes in price.
Demand Curve
A graph that shows the relationship between the quantity of a good demanded and its price.
Completely Vertical
In economics, this can refer to a supply curve that is perfectly vertical, indicating that the quantity supplied is completely unresponsive to changes in price.
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