inelastic demand: condition that exists when a change
in a good's price has little impact on the quantity demanded.
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inflation: period of rising prices during which the
purchasing power of the dollar is falling. An increase in the
general price of consumer goods and services. What the
Federal Reserve chairman is always trying to keep under
control so it doesn't harm the economy.
infrastructure: the basic facilities, such as roads,
harbors and utilities, on which the smooth operation of the
economy depends.
injunction: a court order forbidding an individual or
organization from engaging in an activity. Courts issue this
to stop a person or group from doing something that might
cause future harm.
