Examlex
Which theory states that sleep is a product of evolution?
Income Effect
Economic principle that describes how a change in an individual's income affects their purchasing behavior.
Interest Rate
The percentage charged on a loan or paid on savings over a certain period of time, essentially the cost of borrowing money or the reward for saving.
Optimal Choice
The most efficient, advantageous selection or decision based on available information and constraints.
Substitution Effect
The change in consumption patterns due to a change in relative prices, leading consumers to substitute the consumption of one good for another.
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