Examlex
Rather than access a brand's website or contact technical support, many consumers go to YouTube to see videos on how to use a product or repair it.
Elastic
In economics, it describes a situation where the supply or demand for a good or service changes significantly when its price changes. High elasticity indicates that a slight price change could lead to a significant change in quantity demanded or supplied.
Percentage Change
A mathematical calculation that represents the degree of change over time, expressed as a percentage, to compare changes in quantities or measures.
Total Revenue
The comprehensive amount of financial earnings a company gathers from its sales and services over a designated period.
Elastic Demand Curve
A demand curve that indicates a high responsiveness or sensitivity of quantity demanded to a change in price.
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