Examlex
A displacement vector is 23 km in length and directed 65° south of east. What are the components of this vector? Eastward Component Southward Component
Normal Good
A good for which demand increases as the income of consumers increases and decreases as the income of consumers decreases.
Inferior
A term used in economics to describe goods whose demand decreases as the income of the consumer increases, contrasted with normal goods.
Input Costs
Input costs are the prices of the raw materials, labor, and other resources required to produce a good or service.
Price Change
A variation in the cost of a good or service over time.
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