Examlex
Vygotsky's zone of proximal development was _____.
Complementary Goods
Products or services that are used together, where the increase in demand for one leads to an increase in demand for the other.
Luxury Goods
High-value products that are not necessary for basic needs and are often considered a sign of wealth or status.
Price Elastic
Describes how sensitive the demand for a good is to changes in its price; a high elasticity means demand is greatly affected by price changes.
Principal-Agent Problem
A dilemma in economics and organizational theory where one party (the agent) is expected to act in the best interest of another (the principal) but may have personal interests that conflict.
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