Examlex
The acronym ETL stands for _______.
Normal Good
A good whose demand increases as consumers' income rises, holding all other factors constant.
Consumption
Consumption refers to the use of goods and services by households. It is a primary component of the economy, encompassing the spending on goods and services by consumers.
Income
Money received, especially on a regular basis, for work or through investments.
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.
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