Examlex
Examine the figure and statements below. Which of the statements is INCORRECT?
Elastic
Describes a situation where the demand or supply for a good or service significantly changes in response to a change in price.
Total Revenue
The aggregate earning of a company from its operational activities, an indicator of its market success.
North American Free Trade Agreement
A trade agreement between Canada, Mexico, and the United States to remove tariffs and facilitate commerce.
European Union
A political and economic union of 27 European countries that are located primarily in Europe, aiming to ensure free movement of goods, capital, services, and labor among its member states.
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