Examlex
Interviewers who establish a conversational distance of slightly over one arm's length distance are considered most comfortable for European North Americans.
Income Effect
The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, making consumers substitute one good for another.
Normal Good
A Normal Good is a type of good for which demand increases when income increases, and vice versa, holding all other factors constant.
Income Effect
The alteration in the income of a person or an economy and its impact on the demand for a particular good or service.
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