Examlex
When a person is tested for HIV,if _______ to the HIV are present the test is called positive.
Substitution Effect
The change in consumption patterns due to a shift in relative prices, leading consumers to substitute one product for another more affordable one.
Price Change
An adjustment in the cost of a good or service, which can be an increase or decrease from its previous amount.
Perfect Complements
Goods that are always consumed together in fixed proportions, where the utility derived from one good enhances the utility derived from the other.
Income Effect
The impact on an individual's or economy's purchasing power from an increase or decrease in income, which subsequently affects the quantity demanded for goods and services.
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