Examlex
Give meanings for the following combining forms and suffixes.
--pnea: __________
Elastic Demand
A situation where the quantity demanded of a good or service changes significantly in response to price changes.
Inelastic Supply
A supply condition where quantity supplied does not change significantly when there is a change in price.
Deadweight Loss
A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, leading to a reduction in total surplus.
Excess Burden
A measure of the economic loss that can occur when market behavior is distorted, often due to inefficient taxation or government policies.
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