Examlex
The costs of an automated perpetual inventory system are considerable because they include the costs of automating the system,maintaining the system,and taking a physical inventory.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded, typically downward sloping.
Widgets
A hypothetical or generic manufactured good often used in economic models and discussions.
Demand Elastic
The degree to which the demand for a product or service varies with its price. High elasticity indicates demand changes significantly with price changes.
Price Elasticity of Demand
An indicator of the sensitivity of the demand for a product to variations in its price.
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