Examlex
Why were the British unable to establish colonies as rapidly as the Spanish did?
Substitution Effect
The economic principle that describes how consumers react to changes in price by replacing more expensive items with less costly alternatives.
Oranges
A citrus fruit known for its sweet taste and high vitamin C content, often consumed fresh, juiced, or used in cooking and baking.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers over a period of time.
Money Income
The number of dollars a person receives per period, such as $400 per week.
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