Examlex
All of the following are strategies for controlling the environmental domain except
Income Effects
The shift in income for either an individual or an economy, and its subsequent effect on the amount of a good or service desired.
Substitution Effects
The change in consumption patterns due to a change in relative prices, leading consumers to substitute one good for another.
Normal Goods
Goods for which demand increases when consumer income increases and vice versa.
Income Effect
The change in an individual's consumption resulting from a change in their real income, affecting their purchasing power.
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