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Although greatly outnumbered by the Aztecs, the Spanish
Income Rises
An increase in the amount of money received by individuals or entities, typically through wages, dividends, or investments.
Elastic Demands
Demand for a product or service that significantly changes in response to price changes, indicating high price sensitivity among consumers.
Luxuries
Luxuries refer to goods or services that are considered non-essential but desirable and are often associated with higher quality and price points than necessities.
Price Elastic Demand
Describes a situation where the quantity demanded of a good or service significantly changes in response to a change in its price.
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