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Draw a demand curve and label it D1. On the graph, illustrate an increase in demand and a decrease in demand, and label the curves D2 and D3, respectively. Starting on demand curve D1, explain the shift that would result from each of the following events:
a. an increase in income and the good is a normal good
b. an increase in income and the good is an inferior good
c. a decrease in the price of a substitute good
d. a decrease in the price of a complementary good
e. an increase in the taste for the good
f. a decrease in population
g. an increase in the expected future price of the good
Unconscious Motives
Drives and desires that influence an individual's behavior and decisions without their conscious awareness.
Dynamics
The study of forces and motion in physics, or the variation and contrast in force or intensity in music.
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A psychological approach that focuses on the mental processes involved in knowledge acquisition, perception, and problem-solving.
Environment
The surrounding conditions, influences, and natural world in which a person, plant, or animal lives and operates.
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