Examlex
Which of the following refers to engaging in the international division of labor so as to obtain the cheapest sources of labor and supplies regardless of country?
Car Dealership
A business establishment that sells new or used cars at the retail level, typically based on a dealership contract with an automaker.
Elasticity of Demand
A measure of how the quantity demanded of a good or service changes in response to a change in its price.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level in a specified time period.
Elastic
describes a situation where the quantity demanded or supplied changes significantly in response to price changes.
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