Examlex
Give three rules of line precedence?
Luxury Good
A good for which demand increases more than proportionally as income rises, often perceived as status symbols.
Economic Downturn
a period of poor economic performance across a country or globally, characterized by reduced consumer spending, business investment, and employment.
Inferior Good
A type of good for which demand decreases as the income of consumers increases.
Perfect Substitutes
Identical products.
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