Examlex
The temperature of a liquid is decreased. What happens to the vapor pressure of the liquid as a result?
Substitutes
Products or services that can replace each other, where an increase in the price of one leads to an increase in demand for the other.
Elastic Demand
Elastic Demand occurs when the quantity demanded of a product changes significantly as its price changes.
Luxury Items
Goods and services that are considered non-essential but desirable, often characterized by their high quality, exclusivity, and high price.
Necessities
Basic needs or essential goods and services required for individuals to maintain a minimum standard of living, such as food, shelter, and healthcare.
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