Examlex
Which of the following is a distinguishing feature of a command system?
Total Revenue
The sum of money a company earns from selling goods or providing services over a specified time frame.
Inelastic
Describes a situation where the demand or supply for a product does not significantly change with the alteration in price.
Elastic
Describes the sensitivity of demand or supply for a good or service to changes in its price, with higher elasticity indicating greater sensitivity.
Tax Burden
The total amount of taxes imposed on an individual, company, or economic sector by the government, often expressed as a percentage of income or GDP.
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