Examlex
Rats that received unpredictable electric shocks in a laboratory experiment subsequently became apprehensive when returned to that same laboratory setting. This best illustrates that anxiety disorders may result from
Marginal Utility
Marginal utility is the additional satisfaction or benefit gained from consuming one more unit of a good or service, which tends to decrease as more units are consumed.
Individual Demand
This refers to the quantity of a good or service that a single consumer is willing and able to purchase at various prices, holding other factors constant.
Normal Good
A type of good for which demand increases when income increases, and falls when income decreases, but price remains constant.
Inferior Good
A type of good for which demand decreases as the income of individuals or the economy increases, opposite to what is observed with a normal good.
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