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Elasticity of Demand
A measure of how sensitive the quantity demanded of a good or service is to a change in its price, indicating how changes in price affect consumer demand.
Gas Stations
Businesses that sell fuel for automobiles, motorcycles, and other vehicles, often offering additional services like convenience store products.
Tax Increase
The raising of taxes by a government, which can affect individuals, businesses, and the economy by influencing spending, saving, and investment behaviors.
Social Security Tax
Taxes collected to fund the Social Security program, which provides benefits to retirees, disabled individuals, and survivors of deceased workers.
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