Examlex
What constitutes ethical behavior is determined entirely by the individual.
Substitution Effect
The economic principle that as the price of one good increases, consumers will replace it with a similar, less expensive good, influencing demand patterns.
Income Effect
The effect of income variations in individuals or economies on the demand levels for goods and services.
Corporate Profit
The financial surplus gained by a corporation after deducting all costs, taxes, and expenses from revenue.
Physical Capital
The stock of tangible goods like machinery, buildings, and infrastructure that are used in production.
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