Examlex
Environmental uncertainty refers to the lack of complete information regarding what exists and what developments may occur in the external environment.
Income Elasticities
Refers to the sensitivity of the demand for a good to changes in the income of the consumers who buy this good.
Normal Goods
Products that see an increase in demand when consumer income grows, and experience a drop in demand as consumer income declines.
Wheat Yields
The quantity of wheat produced per unit of land area.
Total Revenues
The total amount of money generated by a firm from its sales activities before any costs or expenses are subtracted.
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