Examlex
Ethics for the greater good was originally proposed by the Scottish philosopher ______.
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.
Completely Vertical
In economics, this can refer to a supply curve that is perfectly vertical, indicating that the quantity supplied is completely unresponsive to changes in price.
Price Elasticity of Demand
The extent to which the demand for a good adjusts in response to price fluctuations.
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