Examlex
Words from the beginning of a list are more likely to be recalled than words from the middle of the list.This phenomenon is known as the ______ effect.
Price Changes
Variations in the cost of goods or services in the market over time.
Ockham's Razor
A principle stating that in explaining a thing, no more assumptions should be made than are necessary.
Irrelevant Detail
Information that does not have a direct impact on the conclusion or outcome of a particular issue or situation.
Ceteris Paribus
A Latin term meaning "all other things being equal," used to isolate the effect of one variable in a economic model.
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