Examlex
Which of the following could be used to define the ecological niche of a plant species?
Complementary Goods
Goods and services that are used together; when the price of one falls, the demand for the other rises (and conversely).
Inelastic
A term describing demand when it changes by a smaller percentage than changes in price.
Elasticity of Demand
An index indicating the degree to which demand for a product changes in response to a price change, where an elasticity greater than one signifies a high level of responsiveness.
Income Elasticity
A measure of how much the demand for a good or service changes with a change in consumers' income.
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