Examlex
The __________ approach to explaining psychological disorders stresses that events during childhood can lead to unresolved conflicts that manifest themselves as abnormal behavior.
Relative Prices
Relative prices express the price of one good or service in comparison to another, revealing their value relative to each other rather than in absolute monetary terms.
Inferior Good
A type of good for which demand decreases as the income of the consumer increases, in contrast to normal goods where demand increases with rising income.
Normal Good
A good for which demand increases as the income of the consumer increases, and vice versa, holding all other factors constant.
Income Effect
The change in consumer demand for goods and services induced by a change in income, affecting the purchasing power of the consumer.
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