Examlex
Which are some of the results of coming out for a LGBT youth?
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.
Giffen Goods
A type of good for which demand increases as the price increases, and falls when the price decreases, violating the basic law of demand in economics.
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