Examlex
The thing that makes your product special is known as your ________.
Normal Good
A type of good for which demand increases when income increases and falls when income decreases, assuming all other factors remain constant.
Park Visits
The act of visiting a park for recreational, leisure, or sports activities, reflecting an individual's preference or demand for outdoor spaces.
Substitution Effect
The economic principle describing how changes in relative prices can influence the choice between goods or services, holding the overall satisfaction level constant.
Giffen Good
Good whose demand curve slopes upward because the (negative) income effect is larger than the substitution effect.
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