Examlex
When a solution is diluted with water, the ratio of the initial to final volumes of solution is equal to the ratio of final to initial molarities.
Competitive Market
A market structure characterized by a large number of sellers and buyers, none of whom can influence the market price on their own.
Unit of Output
The individual item or specific quantity of a product produced by a company or an economic sector.
Labor Hire
The process of employing individuals or workers, typically for temporary or contractual tasks or projects.
Elastic Supply
Elastic supply refers to a situation where the quantity of goods supplied to the market can quickly increase or decrease in response to changes in price.
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