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The following factors explain the inverse relationship between the price level and the total demand for output, except:
Needs
Fundamental requirements or necessities for physical and psychological well-being, such as food, shelter, esteem, and belonging.
Construction Corollary
A principle in George Kelly's personal construct theory that suggests people anticipate events by the meanings they place on their experiences.
Compatible Groups
Clusters of individuals or entities that exhibit a high degree of similarity or cohesion in preferences, values, or characteristics, facilitating harmonious interactions.
Construe Events
Interpreting or making sense of events by assigning meanings and significance to them.
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