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Daniel is interested in studying how children's behavior changes when they grow up in high-risk environments.He enlists 500 children and their parents to take part in his research,and observes these children once a year for 20 years.Despite the fact that this research is very time consuming and expensive,it gives very good information about how the children age over time.This type of research is an example of a __________ study.
Less Durable
Describes goods or products that have a shorter usable lifespan before they degrade, wear out, or become obsolete.
Inferior Goods
Products whose demand decreases as the income of consumers increases, due to the availability of better or more desirable alternatives.
Income
The financial gain that an individual or business receives, typically through employment, investment, or business ventures.
Utility Function
A mathematical representation in economics that ranks preferences or satisfaction levels consumers receive from consuming goods and services.
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