Examlex
When do most drug errors occur in a hospital setting?
Highly Elastic
Describes a situation where demand for a product is highly sensitive to changes in price, leading to significant changes in quantity demanded.
Highly Inelastic
A situation in which demand or supply changes very little in response to large changes in price, often applicable to essential or unique goods and services.
Herfindahl Index
An economic indicator used to measure the size of companies in relation to the industry and the level of competition among them.
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