Examlex
Considering the effects of cognitive dissonance, supplying customers with additional reinforcement after a purchase can be a good marketing strategy.
Demand Curve
A graphical representation of the relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to purchase.
Income Effect
A change in the demand for goods or services attributed to a change in consumers’ income.
Substitution Effect
An economic principle describing how changes in the price of goods lead consumers to replace these goods with cheaper alternatives, affecting the quantity demanded.
Indifference Curve
An illustration representing a consumer's preference equilibrium between two products, indicating no preference difference.
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