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Feliz [49]
2 years ago
10

The process by which goods and services fluctuate due to increases and decreases on their demand and price

Social Studies
1 answer:
nekit [7.7K]2 years ago
4 0

Answer:Elasticity is an economic concept used to measure the change in the aggregate quantity demanded of a good or service in relation to price movements of that good or service. A product is considered to be elastic if the quantity demand of the product changes more than proportionally when its price increases or decreases.

Explanation:

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