Examlex
Find the acceleration at time t = 2 second of a particle if v(t) = 3t - 1; s = 3 when t = 0.
Income Effect
How an individual's or economic income shift influences the demand for goods or services.
Substitution Effect
The substitution effect describes the change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.
Higher Wage
The increased remuneration or salary received by an employee, often as a result of promotions, market adjustments, or successful salary negotiations.
Labor for Leisure
The trade-off between working hours for income and spending time on relaxation or enjoyment activities.
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