Examlex
When Joe's Java Cafe raised the price of latté,Joe noticed a substantial change in how many cups of latté he sold daily.When he reduced the price of a cup of latté,his sales of lattés increased.From this information,you can assume the demand for cups of latté is ________.
Causation
The relationship between cause and effect, where one event (the cause) directly leads to another event (the effect).
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable on another by holding all other relevant factors constant.
Premature Harvesting
The process of collecting or using resources before they have reached an optimal level of growth or value, which can lead to inefficiency or resource depletion.
Good Intentions
Refers to the desire to bring about positive outcomes or avoid harm, regardless of the actual results of the actions taken.
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