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The Desire to Perform Behaviours Largely Because of the Inherent

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The desire to perform behaviours largely because of the inherent pleasure they yield, rather than because of any hope of external reward, is


Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity supplied at those prices.

Elastic Demand

A situation in economics where the quantity demanded of a good or service changes significantly as its price changes.

Many Substitutes

Refers to a situation where numerous alternative products or services are available for consumers, often leading to competitive markets.

Inelastic Demand Curve

A demand curve that shows a small change in quantity demanded despite large changes in price, indicating consumers' necessity or lack of substitutes.

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