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List Three Factors That Affect Elasticity of Demand

question 27

Essay

List three factors that affect elasticity of demand.Briefly describe how each affects demand.


Definitions:

Wind

Air in motion relative to the surface of the Earth, ranging from gentle breezes to powerful gusts and storms, caused by the uneven heating of the Earth's surface.

Hundred-mile Diet

A lifestyle choice to consume only foods grown or produced within a hundred miles of one's residence, aiming to support local economies and reduce environmental impact.

World Population

The total number of humans currently living on the planet, which as of my last update, was approaching 8 billion.

Increase

A rise in the quantity, size, or extent of something.

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