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While walking through the mall, a young boy sees a new pair of shoes and immediately tells his grandmother that he would like to have them. The grandma initially refuses, prompting the boy to get upset and he starts to cry. The grandma hates to see her grandson get upset, so she changes her mind and buys him the shoes. In this example, we could say that the grandma's initial refusal was _____________ and the boy's mini-tantrum was ____________.
Inferior Goods
Products for which demand decreases as consumers' income increases, opposite of normal goods.
Quantity Demanded
The level of demand for a good or service that individuals can and are ready to buy at an established price.
Service
Activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything.
Red Wine
A type of wine made from dark-colored grape varieties and characterized by its red hue.
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