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A recent immigrant to Canada has been having some difficulties with everyday life, and after some initial hesitation, decides to see a therapist for some assistance. After the interview, the therapist makes a particular diagnosis and is discussing the case with a colleague when the colleague raises some concerns. She points out that the therapist may need to reconsider his diagnosis because the behaviours involved are much more common and are even considered "normal" in the country from which the person came. This example highlights the importance of in defining abnormality.
Substitutes
Goods or services that can be used in place of each other, where the increase in the price of one leads to an increase in the demand for the other.
Demand Elasticity
The degree to which the quantity demanded of a good or service changes in response to a change in its price.
Labor Supply Curve
A graphical representation showing the relationship between the amount of labor workers are willing to offer and the wage rate.
Elasticity Negative
A term used to describe the relationship when the demand for a good or service decreases as its price increases, indicating consumers' sensitivity to price changes.
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