A City Guide To Kur„«gr„m District for imperfect competition: markets that consist of firms capable of influencing the market price of a good (i.e., an industry made up of price setters). implicit costs: the implied value of an activity in terms of what one must give up in order to engage in that activity. Within production, the implicit cost of an input would be the value of that input in some alternative use. imports: the quantity of goods, services, and capital assets that a country buys from other nations. income elasticity of demand: a measure of the percentage change in the quantity of a good sold relative to a percentage change in consumer income. A City Guide To Kur„«gr„m District 2016.