Examlex
In 1920, which psychologist classically conditioned a young child named Little Albert to fear rats?
Indifference Curves
Curves that represent the locus of various points indicating combinations of goods giving equal satisfaction and utility to the consumer.
Inferior Good
A category of product that sees reduced demand as the income levels of buyers rise.
Normal Good
A normal good is one for which demand increases as the income of consumers increases.
Optimal Consumption
The consumption mix that provides the highest satisfaction or utility level to an individual, given their income and prices.
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