Examlex
If the interest rate is 1 percent, the net present value of $1,000 to be received two years from now is
Substitutes
Products or services that can be used in place of each other based on their utility.
Price Elasticity
Price elasticity measures how the quantity demanded of a good is affected by a change in its price, with high elasticity indicating sensitivity to price changes.
Demand
The quantity of a good or service that consumers are willing and able to purchase at a given price over a specified period.
Elastic
Describes a situation where the quantity demanded or supplied of a good is sensitive to changes in its price.
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