Examlex
Business letters are preferred over e-mail when a permanent record is required, when a message is confidential, when formality is necessary, and when a message requires a persuasive, well-considered presentation.
Supply
The total amount of a good or service available for purchase at any given price level in a given market.
Inelastic
Describes a situation where the demand or supply for a good or service is not significantly changed by variations in price.
Elastic
Describes a situation in which the demand or supply for a good or service significantly changes in response to a change in price.
Coefficient
A numerical or constant factor in an equation that multiplies the variable, indicating the degree or level of some effect.
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