Examlex
Hume says, "Euclid has fully explained all the qualities of the circle; but has not in any proposition said a word of its beauty. The reason is evident. The beauty is not a ________ of the circle."
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, demonstrating the sensitivity of consumers to price changes.
Demand Curve
A demand curve is a graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.
More Elastic
Describes a scenario where the quantity demanded or supplied of a good or service is more responsive to changes in its price.
Income Elasticity
A measure used in economics to show how the demand for a good or service changes in response to changes in consumer income.
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