Examlex
Climate, at a local scale like the slopes of a single hill, is termed ____.
Claret
A term primarily used in British English to refer to red Bordeaux wine.
Substitution Effect
The substitution effect occurs when consumers replace more expensive items with less costly alternatives, holding utility constant.
Price
The amount of money required to purchase a good or service, typically determined by supply and demand dynamics in the market.
Claret
A term predominantly used in Britain to refer to red wines from the Bordeaux region of France.
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