Examlex
To keep from getting a virus on your computer, be sure never to download files, programs, or attachments from ________ websites.
Income Effect
The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Substitution Effect
The change in consumption patterns due to a change in relative prices, leading consumers to substitute one product for another more affordable one.
Competitive Firm
A competitive firm is a business that operates in a market where there are many sellers and buyers, the product offered is similar, and the firm can only be a price taker, not a price maker.
Monopolist
A single seller in a market with no close substitutes for the product or service offered, possessing significant market power.
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