Examlex
What is the process of moving merchandise through the channel from the customer to the store to the DC to the vendor?
Consumer Surplus
The disparity between what consumers are prepared and able to spend for a product or service and the actual amount they end up paying.
Property Tax
A tax assessed on real estate by the local government, based on the property's value.
Elastic
Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.
Excess Burden
The cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.
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