Examlex
Ira has never done well on conventional tests designed to measure reasoning and logical-mathematical abilities,but when new and complex situations arise at his job,he is always the one who seems to come up with novel and effective solutions for the problems.What intelligence type does Ira show,according to Robert Sternberg's triarchic theory of intelligence
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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