Examlex
The calcium carbonate skeletons of corals make up the physical structure of coral reefs. These skeletons provide a habitat for a diverse array of organisms and support a highly productive ecosystem. As more carbon dioxide enters the oceans and dissolves to form carbonic acid, the pH of the oceans becomes more acidic. This increasing ocean acidification decreases the ability of corals to build skeletons and construct reefs. If ocean acidification continues, how will it affect the diversity and productivity of coral reefs?
Inferior Good
A type of good for which demand decreases as the income of the consumer increases, typically because consumers will choose higher quality substitutes when they can afford them.
Demand Curve
A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period, typically showing a downward slope from left to right.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.
City Revenues
The income generated by a municipality from sources like taxes, fees, and grants which is used to fund public services.
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