Examlex
Studies involving gender preference in the having of children suggest that
Inferior Good
A type of good for which demand decreases as the income of the consumer increases, typically because consumers will choose higher quality substitutes when they can afford them.
Demand Curve
A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period, typically showing a downward slope from left to right.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.
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