Examlex
Governor Brown's realignment policy involves shifting some services previously provided by state government to counties in hopes of cost savings and improved services.Is this a good idea? Are there other state services that should be delegated to local governments?
Substitution Effect
The economic principle that as prices rise (or incomes decrease), consumers will replace more expensive items with cheaper substitutes, holding utility constant.
Income
The amount of money received by an individual or household over a certain period, usually from employment or investments.
Price
The monetary figure anticipated, requisite, or paid as payment for a product.
Apples
A popular fruit known for its sweet taste, crisp texture, and variety of types, often used as a symbol in discussions comparing different goods or models in economics.
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