Examlex
A survey of the opinions of property owners about a street widening project was taken to determine whether the resulting opinion was related to the distance from the street. A randomly selected sample of 100 property owners was contacted and the results are shown below. What is the expected frequency for people against the project and who have over 120 feet of property foot-frontage?
Snob Effect
The phenomenon where the demand for a certain good increases as the perceived exclusivity or status associated with the good increases, appealing to consumers desiring social distinction.
Inverse Demand Principle
A concept in economics where the quantity demanded decreases as the price increases, illustrating the negative relationship between price and demand.
Elite Polarization
The increasing ideological divergence and conflict between the leadership or most active members of political parties or factions, often resulting in intensified partisan competition and reduced opportunities for compromise.
Relative Advantage
The degree to which an innovation is perceived as better than the idea it supersedes, contributing to its rate of adoption.
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