Examlex
Wyatt is afraid of spiders. He won't even watch a nature show on TV about them. When he sees a picture of a spider, he has a panic attack, but when he avoids looking at the image, his panic goes away. Wyatt's avoidance of spiders is being __________.
Financial Aid
Financial support provided to individuals to help cover the costs of education or other personal expenses.
Price Elastic
Describes how sensitive the demand for a good is to changes in its price; highly elastic demand means consumers will significantly reduce buying with small price increases.
Price Inelastic
Describes a situation where the demand for a good is not very responsive to price changes, meaning consumers buy roughly the same amount regardless of price fluctuations.
Necessity
An essential good or service required for basic survival or societal functioning.
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