Examlex
Explain the role consumers play in perpetuating discrimination in labour markets.
Demand Elasticity
A quantification of the effect of price variation on the demand level for a specific good.
Income Elasticity
A measure of how much the quantity demanded of a good or service changes in response to a change in consumers' income.
Inferior Good
A type of good whose demand decreases when consumer income rises, unlike normal goods, which see an increase in demand with rising income.
Income Elasticity
A measure of how much the quantity demanded of a good responds to a change in consumers' income.
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