Glossary

Reset Glossary
price inelastic demand

Subject: 

  • Economics

consumers will not react; or react only slightly; to a change in price.

Related Content

income elasticity of demand
Subject:
Economics

how consumers react to a change in their income by buying more or less.

comparative advantage
Subject:
Economics

in trade when the ability to produce the two goods in an efficient way differs between the two...

good governance
Subject:
Economics

the way countries are administered in an honest and efficient way.

marginalised groups
Subject:
Economics

people who have a smaller ability to find a job or to earn an income; these include the poor;...

foreign direct investment
Subject:
Economics

investment from another country in the form of actual physical assets such as factories and...