Examlex
The combining form dors/o- means back.
Backward-Bending
Describes a labor supply curve that bends backwards at higher wage rates, indicating that higher wages can lead to a decrease in labor supplied due to income effects.
Engel Curve
A graphical representation showing the relationship between a consumer's income and the quantity of a good consumed, keeping all other factors constant.
Total Effect
The overall impact on a dependent variable when one or more independent variables change.
Price Change
An alteration in the cost of goods and services in the market, which can be due to various factors like inflation, supply and demand changes, or external economic conditions.
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