Examlex
Ollie engages in some healthy and some unhealthy attitudes or behaviors. Of the following, which represents something he does that could make his health care less effective or put him at risk?
Price Inelastic
Describes a situation where the quantity demanded or supplied of a good or service changes little when its price changes.
Short Run
A time period in economics during which at least one input or factor of production is fixed and cannot be changed, limiting the immediate response to changes in demand or technology.
Long Run
A period in economics sufficient for all factors of production and costs to be variable, allowing firms to adjust to market conditions fully.
Bumper Crops
An exceptionally large crop yield, often much higher than average.
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