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Since group results cannot be attributed to any single person, the relationship between an individual's input and the group's output is clouded and this increases the possibility of ________.
Giffen Good
A product that people consume more of as the price rises, violating the basic law of demand.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods or services.
Indifference Curve
A chart illustrating diverse pairings of two items that offer the same level of contentment and usefulness to a shopper.
Budget Constraint
The limitations on the consumption choices of an individual or household as determined by income and the prices of goods and services.
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