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Why is there a problem of trust that persists in international business?
Elastic Demand
A situation in which the quantity demanded of a good or service significantly changes in response to a change in price.
Tax Revenue
The income that is gained by governments through taxation, which is then used to fund public services and goods.
Price Elastic
Refers to the sensitivity of the demand for a good or service to changes in its price; highly elastic demand means consumers will significantly alter their purchase amount with price changes.
Consumption
The use of goods and services by households. It is a primary component of an economy's demand side.
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