Examlex
Ben is a right brain dominant thinker and has no problem in seeing the 'big picture' in the concepts he is learning.A good strategy for Ben to remember information would be to go from the general to the specific.
Demand Curve
A visual chart that illustrates how the quantity of a product demanded by customers varies according to its price.
Consumer Equilibrium
The point at which the satisfaction obtained from a good or service equals the price paid for it, maximizing utility.
Substitution Effect
The change in consumption resulting from a change in relative prices, leading consumers to substitute away from higher-priced goods towards lower-priced ones.
Price Change
An alteration in the cost to purchasers of goods and services over time or in response to supply and demand conditions.
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