Examlex
The function of the probe is to
Market Demand
Represents the total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices over a specific period of time.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage.
Gasoline Supply
The total amount of gasoline available for purchase in a market, influenced by factors like production rates and import levels.
Price Elasticity of Supply
An indicator of the responsiveness of the supply of a product to variations in its price.
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