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Match the Terms with Their Correct Meanings

question 209

Multiple Choice

Match the terms with their correct meanings.
-A substance that acts against a poison

Definitions:

Inelastic

A characteristic of a good where its demand does not significantly change with changes in price.

Percentage Change

A mathematical calculation that describes the relative change between an old value and a new value, expressed as a percentage.

Unit Elastic

A situation in demand or supply where a change in price leads to an equal proportionate change in quantity demanded or supplied.

Approximately Unit Elastic

A situation in economics where the percentage change in quantity demanded is roughly equal to the percentage change in price, indicating an elasticity of demand close to one.

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