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The lever system at the elbow joint provides a mechanical advantage so that when the biceps muscle contracts to flex the elbow joint and lift an object in the hand, the force developed in the biceps can be considerably less than the actual load that is moved.
Substitution Effect
A response to price changes in which consumers replace more expensive items with less costly alternatives.
Income Effect
The change in an individual's consumption patterns resulting from a change in their real income.
Labor Supply Curve
A graphical representation showing the relationship between the wage rate and the quantity of labor that workers are willing to supply.
Substitution Effect
The change in consumption patterns due to a change in relative prices, leading consumers to replace more expensive items with cheaper alternatives.
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