Describe the Notion of Intersensory Redundancy

question 122

Essay

Describe the notion of intersensory redundancy. How might knowledge of this be useful to the parent of a new infant?

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price, holding all other factors constant.

Inelastic

Refers to a scenario in which a change in price leads to a comparatively small change in the quantity demanded or supplied.

Price Elasticity

An indicator of the sensitivity of the demand for a product to alterations in its price.

Elastic

A term used to describe the sensitivity of the quantity demanded or supplied of a good or service to a change in its price.