Examlex
Name one of the two dimensions that the categories of culture are based on.
Inferior Good
An inferior good is one whose demand decreases as the income of the consumer increases, inversely related to income.
Price Decrease
A reduction in the cost of a good or service, which usually leads to an increase in the quantity demanded by consumers.
Allowance
An amount of money given regularly for a specific purpose, often by a parent to a child or by an employer to an employee.
Preferences
The subjective tastes and choices of consumers, which guide their decision-making in selecting among alternatives.
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