Examlex
Uncertainty refers to not knowing what will happen in the future.Which of the following least applies to uncertainty?
Elasticity
An economic measure of the sensitivity of demand or supply to changes in price, income, or other factors, affecting the quantity consumed or supplied.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good.
Total Revenue
The total income generated by a firm from the sale of its products or services before any costs are deducted.
Perfectly Inelastic Demand
A market situation where the quantity demanded does not change irrespective of changes in price.
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