Examlex
After getting a bad grade on an exam,Brandon can't stop thinking repetitively about his failure as a student.Brandon's thought process is an example of:
Inelastic Demand
A situation where the demand for a product does not significantly change with a change in price.
Good Substitutes
Products or services that can be used in place of each other, with consumers willing to switch from one to the other if the price or quality changes.
Necessity
Goods or services considered essential for basic human survival and well-being, such as food, water, and shelter.
Income Percentage
A measure or fraction of personal or household income, often used in context to describe expenditure, saving, or taxation ratios.
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