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The first step of scientific inquiry is establishing a testable:
Price Change
An alteration in the cost of goods and services in the market, which can be due to various factors like inflation, supply and demand changes, or external economic conditions.
Normal Good
A type of good for which demand increases when income increases and falls when income decreases, assuming all other factors remain constant.
Park Visits
The act of visiting a park for recreational, leisure, or sports activities, reflecting an individual's preference or demand for outdoor spaces.
Substitution Effect
The economic principle describing how changes in relative prices can influence the choice between goods or services, holding the overall satisfaction level constant.
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