Examlex
How many square meters of photovoltaic cells would be required to light a 60-W computer monitor? The efficiency of photovoltaic cells is 15% for converting 1000 W/m 2 of solar energy to electricity.
Equation
A mathematical statement that asserts the equality of two expressions, represented by the symbol "=".
Luxury
Goods or services that are considered non-essential but desirable, often associated with high quality and high price.
Price Elastic
The responsiveness of the quantity demanded or supplied of a good to a change in its price. High elasticity means quantity changes significantly with price changes.
Necessity
A requirement or indispensability; something that cannot be done without.
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