Examlex
The early vertebrate fossils belong to an extinct group of jawless fishes known as ____________.
Share of Income
The portion of total income (either personal or national) that is received by an individual, household, or socioeconomic group.
Elastic
A demand curve on which percentage quantity changes more than percentage price is said to be elastic, or sensitive to price. If |e| > 1, demand is elastic, where e is the price elasticity of demand. If |e| = 0, demand is perfectly inelastic while if |e| is infinite, demand is perfectly elastic. If |e| 5 1, demand is unit elastic.
Normal Good
A good for which demand increases when consumer income rises, and falls when consumer income decreases, all else being equal.
Income Increased
A situation where an individual or entity experiences a rise in their earnings or revenue.
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