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A constitution does not create a government.
Price Elasticity of Demand
The responsiveness of the quantity demanded of a good to a change in its price, with all other factors being held constant.
Elastic
Describes a situation where the demand for a product significantly changes in response to changes in its price.
Absolute Value
A numerical value regardless of its sign, often represented as the distance of a number from zero on the numerical scale.
Price Inelastic
Describes a situation where the demand for a product does not significantly change with a price increase or decrease.
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