Examlex
The key component of smog is
Product
Anything that can be offered to a market to satisfy a want or need, including goods, services, and ideas.
Income Elasticity
A measure of how the demand for a good or service changes in relation to a change in income.
Good
A tangible product that satisfies human wants or needs.
Service
An (intangible) act or use for which a consumer, firm, or government is willing to pay.
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