Examlex
Which is not an example of body language?
Substitution Effect
An alteration in consumer choice between two goods when the price of one good changes relative to the price of another, influencing the allocation of their budget.
Income Effect
The relationship between changing income in a person's life or the economy and the subsequent demand for certain goods or services.
Perfect Substitutes
Goods for which consumers are willing to replace one for the other at a constant rate, without affecting their level of utility.
Substitution Effect
The change in consumption patterns due to a change in relative prices, leading consumers to substitute one product for another.
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