Examlex
What are two strategies to build resilience? Describe how you have applied these to your life.
Inelastic Demand
A situation in which the demand for a product does not significantly change in response to a change in price.
Necessity
An essential requirement or need for survival or to maintain a certain standard of living.
Luxury
Goods or services that are considered non-essential but desired for their quality, status, or comfort they provide.
Substitutes
Products or services that can replace or be used in place of another, offering consumers alternative choices.
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