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Researchers and practitioners as well as the general public in the United States in the early 20th century believed that human intelligence was biologically determined.
Inferior Goods
Inferior goods are products whose demand decreases as consumer income rises, opposite to normal goods.
Demand
The amount of a product or service that buyers are prepared and capable of buying at different price levels over a specific time frame.
Income
Earnings acquired on a consistent basis through employment or investments.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price within a specific time period.
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