Examlex
Objections to free trade
Elastic Demand
A situation where the demand for a product is sensitive to price changes, often resulting in significant changes in demand when prices fluctuate.
Inelastic Supply
An instance in which a good's supplied amount remains largely unaffected by variations in its price.
Price Elastic
The responsiveness of the quantity demanded or supplied of a good to a change in its price.
Tax Imposition
The act of levying taxes on individuals, corporations, or goods and services, typically by government authorities to generate revenue.
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