Examlex
________ contains much metadata that can be used to validate the format and completeness of the document, but includes considerable overhead.
Substitution Effect
The change in consumption patterns due to a change in the prices of goods, leading consumers to replace more expensive items with cheaper alternatives.
Income Effect
The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.
Opportunity Cost
The lost potential gain from other alternatives when one alternative is chosen.
Income Effects
The changes in an individual's or economy's income and how that changes their spending and saving behavior.
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