Examlex
Ambrose Bierce posited that individuals in large groups such as corporations feel more responsibility and accountability for what happens in the group than they do for what happens in their individual lives.
More Elastic
Describes a situation where the demand or supply for a good or service is highly responsive to changes in price.
Less Elastic
Describes a situation where the demand or supply for a product or service is relatively unresponsive to changes in price.
Perfectly Inelastic
A situation where the demand or supply for a good does not change in response to changes in price.
Demand Curve
A graph that shows the relationship between the quantity of a good demanded and its price.
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