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Have you ever noticed that some products continue to sell even when their prices rise, while others see an immediate drop in demand? For example, if the price of salt increases, most people still buy the same amount. But if apples become expensive, many of us reduce our purchases. This difference in how consumers respond to price changes is known as  Price Elasticity of demand. It is one of the most important concepts in economics, and it affects businesses, markets, and ev

Why Glaciers Matter: World Water Day 2025 & Glacier Decade Explained “Glaciers are melting... but why should YOU care?” In 2025, the...

The Race to Regulate AI: A Look at Global Developments The field of Artificial Intelligence (AI) is rapidly evolving, and governments...

Mayer-Rokitansky-Kuster-Hauser Syndrome (MRKH) and it's specific detail lik causes, treatment etc

All about BharatGPT’s ‘Hanooman’ in brief: - The BharatGPT group, led by IIT Bombay and seven other Indian engineering institutes, is...

CEIB: Central Economic Intelligence Bureau The Central Economic Intelligence Bureau (CEIB) is a crucial agency within the Indian Ministry...

Climate Challenges in South Asia: Changing climate affecting agriculture. Almost 700 million affected by disasters. Defined: Adversely -...

Opportunity Cost: Definition: Opportunity cost refers to the value of the next best alternative forgone when a decision is made to...

Fiscal Deficit UPSC Fiscal deficit refers to the amount by which a government's spending exceeds its revenue in a given fiscal year,...