Examlex
According to Lawrence Kohlberg's stages of moral development,a first grader in the preconventional stage will not disobey his teacher because he will not want to be punished.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to replace more expensive items with less expensive ones.
Income
Beneficial returns gained from employment or investment opportunities, typically on a scheduled basis.
Price
The price one must pay to obtain a good or service.
Claret
A term often used in British English to refer to red Bordeaux wine.
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