Examlex
NRDS is a result of:
Substitutes
Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.
Relatively Inelastic
Describes a situation where the demand or supply for a good or service changes only slightly in response to changes in price.
Price Elastic
Refers to a situation where the demand or supply for a product or service significantly changes in response to its price change.
Soft Drinks
Non-alcoholic beverages that are usually carbonated and contain various flavorings and sweeteners.
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