Examlex
Fritzie was having problems talking.Gradually but progressively over the past year,it became harder and harder for her to get her words out.Her memory remained quite good,though,despite her language impairment.Most likely,Fritzie has ____.
Individual Demand
This refers to the quantity of a good or service that a single consumer is willing and able to purchase at various prices, holding other factors constant.
Normal Good
A type of good for which demand increases when income increases, and falls when income decreases, but price remains constant.
Inferior Good
A type of good for which demand decreases as the income of individuals or the economy increases, opposite to what is observed with a normal good.
Law of Supply
It states that, all else equal, an increase in the price of a good or service will lead to an increase in the quantity supplied.
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