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MrBelding,principal of Bayside High School,wants to Know If Miss Bliss,one

question 79

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Mr.Belding,principal of Bayside High School,wants to know if Miss Bliss,one of his teachers,is satisfied with her job.He remembers that she is always early to work,stays late to work with her struggling students,and hasn't called in sick the entire year.Based on his observations,Mr.Belding seems to be focusing on the ____ component of Miss Bliss' job satisfaction.


Definitions:

Inferior Good

A type of good for which demand decreases as the income of consumers increases, inversely related to income changes.

Substitution Effect

The change in consumption patterns due to a change in relative prices, causing consumers to substitute cheaper goods for more expensive ones.

Indifference Curve

A graph representing different bundles of goods between which a consumer is indifferent, showing combinations that provide the same level of satisfaction.

Substitution Effect

A concept in economics describing the change in consumption resulting from a change in the price of one good relative to the price of other goods.

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