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RELATIVELY ELASTIC: An elasticity alternative in which relatively small changes in price cause relatively large changes in quantity. In other words, quantity is very responsive to price. Relatively elastic should be compared with other elasticity alternatives--relatively inelastic, perfectly inelastic, perfectly elastic, and unit elastic.

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VOTING PROBLEMS

Voting is a key source of government inefficiency because it can fail to provided leaders with a valid indication of society's preferences. Part of the inefficiency rests with utility-maximizing decisions of the voters, who choose rational ignorance (not to be informed) and rational abstention (not to participate), both of which lead to voter apathy and influential special interest groups. Part of the inefficiency rests with the voting process, which results in importance of the median voter, inconsistency of the voting paradox, and logrolling (vote-trading ) among voters.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for crowded shopping malls.
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Two and a half gallons of oil are needed to produce one automobile tire.
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