Posted in Economics

4.3 Econ Vocab

Posted on by Scott Biggar
  1. elastic: when a change in price causes a much larger change in quantity demanded
  2. inelastic: when a change in price causes a small change in quantity demanded
  3. unit elastic: when the % change in quantity demanded = the % change in price
  4. technical مفيد: useful
  5. revenue المال الحقيقي: total income from a given source or product
  6. expenditures: things you pay for
  7. inverse عكس: opposite; the other way
  8. delayed تاخر: pushed back in time
  9. hardship مشكله: a problem
  10. adequate كافي: so-so, alright (a grade of C)

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