MATCHING -Match Each Item with the Correct Description Below

question 31

Multiple Choice

MATCHING
-Match each item with the correct description below.
Cerebrum,brain

• A)Mening/o
• B)-ictal
• C)-iatrist
• D)Cerebr/o

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Definitions:

Substitution Effect

The change in consumption patterns due to a change in the prices of goods, leading consumers to replace more expensive items with cheaper alternatives.

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.

Opportunity Cost

The lost potential gain from other alternatives when one alternative is chosen.

Income Effects

The changes in an individual's or economy's income and how that changes their spending and saving behavior.