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Elastic Demand
A situation in which the demand for a good or service is sensitive to price changes, characterized by the percentage change in demand being greater than the percentage change in price.
Total Expenditures
The overall amount of spending by an individual, firm, or government on goods and services.
Export Demand
The desire and willingness of foreign buyers to purchase goods and services from a country.
Domestic Demand
The total demand for goods and services within a country, including both consumer and business purchases.
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