Examlex
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Price-Inelastic
Describes a situation where the demand for a product or service is relatively unaffected by changes in its price.
Water
A transparent, tasteless, odorless, and nearly colorless chemical substance that is the main constituent of Earth's hydrosphere and the fluids of most living organisms.
Price Elasticity
An indicator of the sensitivity of demand for a product to variations in its price, represented as a percentual change.
Small Percentage
A quantitatively minor proportion or fraction of a total amount, often implying a negligible or minor impact.
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