Examlex
When a person fails to attempt an escape from an aversive situation following previous experience with an inescapable aversive situation,this is called
Perfect Complements
Goods that are used together in fixed proportions due to the nature of their consumption or utility.
Income Effect
The change in an individual's or economy's consumption patterns due to a change in real income.
Substitution Effect
The economic principle that as the price of one good increases, consumers will replace it with a cheaper alternative, holding utility constant.
Price Change
A variation in the cost of goods or services over time, which can result from factors like supply and demand, inflation, or market dynamics.
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