Examlex
Suppose the price of gasoline in July 2004 averaged $0.91 per litre and 15 million gallons a day were sold.In October 2005, the price averaged $1.06 per litre and 14 million gallons were sold.If the demand for gasoline did not shift between these two months, use the midpoint formula to calculate the price elasticity of demand.Indicate whether demand was elastic or inelastic.
Voice Communication
The transmission of spoken information through electronic devices, enabling verbal interaction between people over distances.
Crowdsourcing
The practice of obtaining information, ideas, or content by soliciting contributions from a large group of people, especially from an online community.
Outsourcing
The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.
MOOCs
Massive Open Online Courses, which are free online courses available for anyone to enroll and provide a way to learn new skills or enhance knowledge.
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