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Analysts must assume that users have not read the manual, have not attended training, and do not have external help readily available. To confront these realities, navigation controls must be designed with three basic principles. Identify and define these three principles. Provide an example for each.
Vertical Sum
A concept typically used in the context of aggregating demand curves, where the quantities at each price level are summed vertically across different consumers or markets.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price within a given time period.
Real Incomes
The amount of goods and services that can be purchased with money income, taking into account the effects of inflation on purchasing power.
Price Falls
This term indicates a decline in the market price of goods or services, which can result from various factors, such as increased supply, reduced demand, or external market shocks.
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