Examlex
Erikson and colleagues (2009) were interested in whether aerobic exercise had any effect on the volume of the hippocampus, a key brain structure related to memory. To assess this, they had older adults
Relatively Elastic
Describes a situation where demand for a product is sensitive to changes in its price, meaning consumers will significantly reduce or increase their demand based on price changes.
Sensitive
Responsive or easily affected by external conditions or stimuli.
Economic Theory
A concept or principles developed to explain how economies work and how economic agents interact.
Substitute Goods
Goods or services that act as substitutes for each other, meaning that if the price of one goes up, the demand for the other also rises.
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