SUPPLY is the quantities that producers or sellers are willing and able to buy at various prices.
- Elasticity of Demand: tells how drastically buyers will cut back or buy more of a particular good
- Elastic Demand: A product that is elastic when demand will change greatly when given a small change in price.
- Inelastic: product said to be inelastic if your demand for it does not chnage
- Milk, gas, medicine.
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