Examlex
An individual with a "double-jointed" thumb can pull it back towards the wrist much farther than normal.What does it mean to be "double-jointed?"
Inverse Supply
Displaying how supply levels adjust based on varying price points; this model inversely associates the supply quantity with its price.
Inverse Demand
A rephrased definition: It refers to the relationship that shows the price of a good as a function of the quantity demanded, essentially the inverse function of a demand curve.
Tax
A required economic dues or other form of assessment exacted from a taxpayer by government authorities meant to finance government activities and assorted public costs.
Excess Supply
Occurs when the quantity of a good or service supplied is greater than the quantity demanded at a given price.
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