Examlex
What percent of the Union army was comprised of immigrants?
Cross-Price Elasticity
Measure of how the quantity demanded of one good responds to a change in the price of another good.
Positive
Affirmative, constructive, or based on factual data; often used in reference to positive statements in economics which describe the world as it is, rather than how it should be.
Good Y
A general term used to represent a specific product or commodity in economic models or discussions.
Demand Function
A mathematical representation that describes the relationship between the quantity of a good that consumers are willing and able to purchase at various prices, holding other factors constant.
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