Examlex
Use the following to answer questions :
-Great Leap Forward
Elastic
A term used to describe a situation in which the demand or supply for a good or service changes significantly when its price changes.
Price Ceiling
A legal maximum price that can be charged for a good or service, usually imposed by a government to prevent prices from becoming too high.
Crude Oil
An organic, unprocessed substance found in nature, made up of hydrocarbon deposits along with other organic matter, known as crude oil.
OPEC
The Organization of Petroleum Exporting Countries, an intergovernmental body aiming to coordinate and unify petroleum policies among member countries.
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