Examlex
Trichinella spiralis is what type of organism?
Income Effect
The effect of changes in either individual or economic income on the demand levels for goods or services.
Inferior Good
A type of good whose demand decreases as consumer income rises, meaning it is often replaced by more desirable goods as financial circumstances improve.
Normal Good
A type of good for which demand increases as the income of individuals rises, holding all other factors constant.
Giffen Good
A product for which demand increases as its price increases, contrary to the standard demand model, due to the interplay of income and substitution effects.
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