Examlex
Which of the following is most likely a secondary method of data collection?
Substitution Effect
The change in consumption resulting from a change in relative prices, leading consumers to substitute away from higher-priced goods towards lower-priced ones.
Price Change
An alteration in the cost to purchasers of goods and services over time or in response to supply and demand conditions.
Total Utility
The total satisfaction a consumer gets from consuming a certain quantity of goods or services.
Demand Curves
A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.
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