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The theory of capitalism rests on a view of humans as
Normal Good
A type of good for which demand increases as the income of consumers increases, and decreases when consumer income decreases.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, opposite of a normal good.
Normal Good
A good for which demand increases as the income of the consumer increases.
Price Elasticity
An indicator of the alteration in the amount of a product that is either demanded or supplied, as a result of variations in its market price.
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