Examlex
What is a sale? What are the key activities in sales?
Substitution Effect
The change in demand for a good or service caused by a change in its price, leading consumers to substitute it with other goods or services.
Income Effect
The change in consumer's purchasing power due to a change in real income, affecting the quantity of goods they can buy.
Price Change
A variation in the cost of goods and services in a market, influenced by factors such as supply and demand, inflation, or governmental policy.
Charitable Giving
The act of giving money, goods, or time to the unfortunate, either directly or by means of a charitable trust or other worthy cause.
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