Examlex
When the Court frequently overturns its own past decisions,it decreases the likelihood that its future decisions will be considered legitimate.
OPEC
The Organization of the Petroleum Exporting Countries, an intergovernmental organization of 13 oil-producing nations that collaborate to manage the supply and set the price of oil.
Elastic
Describes a situation where the quantity demanded or supplied of a good or service significantly changes in response to a change in price.
Price Elasticity of Supply
A measure of how much the quantity supplied of a good responds to a change in the price of that good, with higher elasticity indicating greater responsiveness.
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price over a specified period of time.
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