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How do experience and biological processes affect human development?
Substitutes
Substitutes are alternative products or services that consumers can use in place of another to fulfill the same needs or desires.
Cross-Price Elasticity
A measure of how the demand for one good responds to a change in the price of another good.
Income Elasticity
A measure of how much the demand for a good changes in response to a change in consumer income.
Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period of time.
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