The More and Better Substitutes a Good Has, the More

question 38

True/False

The more and better substitutes a good has, the more elastic the demand for that good will be.

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Definitions:

Ellen Langer

A psychologist known for her work on the illusion of control, mindfulness, and decision-making.

Stress Appraisal

The process of evaluating a situation for its potential to cause stress, including assessments of its significance and how it can be managed.

General Adaptation Syndrome

General Adaptation Syndrome is a theoretical model describing the body's short-term and long-term reactions to stress, comprising three stages: alarm, resistance, and exhaustion.

Type A Personality

A personality trait characterized by high levels of competitiveness, self-motivation, aggressiveness, and impatience.