Examlex
What are some laws that were passed to prevent further destruction of the ozone layer? Are these laws stringent enough? What other precautions against skin cancer have been recommended?
Highly Elastic
Referring to a situation where the quantity demanded or supplied responds significantly to changes in price.
Demand Curve
A graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers over a period of time.
Consumer Surplus
The difference between the maximum price consumers are willing to pay and the price they actually pay. It is the net gain derived by the buyers of the good.
Cell-Phone Service
A service provided by telecommunications companies that enables mobile phone users to make and receive calls, texts, and use data.
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