Examlex
Tran is devising a scale to predict which daughters are prone to feel over-burdened by caring for aged parents.What item should NOT appear on his questionnaire?
Income Effect
Refers to the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Substitution Effect
The change in demand for a good or service caused by a change in its price, leading consumers to substitute it with other goods or services.
Income Effect
The change in consumer's purchasing power due to a change in real income, affecting the quantity of goods they can buy.
Price Change
A variation in the cost of goods and services in a market, influenced by factors such as supply and demand, inflation, or governmental policy.
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