Examlex
The Internet is a global network comprised of thousands of interconnected individual networks that communicate with each other through transmission control protocol/internet protocol (TCP/IP).
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.
Shift
In economic contexts, this term often refers to a movement or change in the position of a supply or demand curve in response to various factors.
Slope
In mathematics, the measure of the steepness or incline of a line, typically described as the ratio of the rise over the run.
Substitution Effect
The economic principle that describes how consumers react to changes in price by replacing more expensive items with less costly alternatives.
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