Examlex
Which of the following is an example of an inhalant?
Diminishing Marginal Utility
Diminishing marginal utility is the principle stating that as a person consumes more of a good, the satisfaction gained from consuming each additional unit decreases.
Income Effect
Refers to the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Substitution Effect
The change in consumption patterns due to a change in the prices of goods, leading consumers to replace more expensive items with cheaper alternatives.
Demand
The desire and ability of consumers to purchase goods and services at different prices, reflecting how much of a product consumers are willing and able to buy.
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