Examlex
Which one of the following is NOT a part of the M1 definition of money?
Elastic
Describes a situation in economics where the demand for a product or service significantly changes in response to a change in price.
Inelastic
A characteristic of goods or services for which demand does not significantly change with a change in price.
Price Range
The difference between the lowest and highest prices within a given market.
Price Inelastic
Refers to a condition where the demand for a good does not significantly change with a change in its price.
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