Examlex
A subsidiary ledger is a record of accounts that provides supporting details on individual balances,the total of which appears in a general ledger account.
Consumer Income
The total earnings of a consumer from various sources before taxes, crucial in determining spending and saving behaviors.
Normal Good
A good for which demand increases as consumer income rises.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, inversely related to income changes.
Law Of Demand
An economic principle stating that, all else being equal, an increase in the price of a good or service will lead to a decrease in the quantity demanded, and vice versa.
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