Examlex
The P of Dell Hymes' S-P-E-A-K-I-N-G mnemonic refers to
Deadweight Loss
A loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unachievable.
Elastic
Describes a situation in which the demand or supply for a good or service significantly changes in response to a change in price.
Deadweight Loss
A loss of economic efficiency that occurs when the equilibrium outcome is not achieved due to market distortion, such as taxes or subsidies, leading to a reduction in total welfare.
Vacationing Abroad
The act of traveling to another country for leisure, exploration, or relaxation purposes.
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