Examlex

Solved

The Oxygen Present in Earth's Atmosphere Has Been Produced as a Waste

question 62

Short Answer

The oxygen present in Earth's atmosphere has been produced as a waste product of the process of ________.


Definitions:

Price Elastic

The responsiveness of the quantity demanded or supplied of a good to a change in its price. High elasticity means quantity changes significantly with price changes.

Necessity

A requirement or indispensability; something that cannot be done without.

Midpoint Method

A technique used in economics to calculate the elasticity of demand or supply, measuring the percentage change in quantity demanded or supplied relative to a percentage change in price.

Price Elasticity

A metric determining how the quantity of a good demanded fluctuates with a shift in that good's price.

Related Questions