Examlex
Acceptance testing is done in two stages: alpha testing, where users test the system using made-up data, and beta testing, where users begin to use the system with real data but are carefully monitored for errors.
Inelastic
A characteristic of a good or service whose demand or supply is relatively unresponsive to changes in price.
Elastic
A characteristic of a product or service that indicates its demand or supply significantly changes with a change in price.
Unit Elasticity
A situation where a change in the price of a product leads to a proportional change in the quantity demanded or supplied.
Demand
The quantity of a good or service that consumers are willing and able to purchase at a given price over a specified period of time.
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