Examlex
When someone uses punishment to change a behavior,the behavior is likely to ______.
Substitution Effect
The change in consumption patterns due to a change in relative prices, where consumers replace more expensive items with less costly alternatives.
Inferior Good
Items for which demand falls when the income levels of buyers go up, unlike standard goods that see an increase in demand with rising incomes.
Income Effect
How shifts in the financial status of individuals or whole economies affect their purchasing desires for specific goods or services.
Price Increase
An increase in the price of products or services.
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