Examlex
What are the four characteristics of money?
Productive Capacity
The maximum output a firm or economy can produce when using all available resources efficiently.
Calculate Elasticity
The process of assessing how the quantity demanded or supplied of a good changes in response to changes in its price or other factors.
Unit Elastic
Describes a demand or supply situation where a change in price leads to a proportional change in the quantity demanded or supplied.
Total Revenue
The total income generated by a business through the sale of goods or services before any costs or expenses are deducted.
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