Examlex
With respect to inheritance, what do generalization and specialization mean?
Optimizing
The process of making something as effective, functional, or profitable as possible.
Consumer Surplus
The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.
Price Elasticity
An indicator of the sensitivity of demand for a product to variations in its price.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price.
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