Examlex
Which of the following is true of a self-fulfilling prophecy?
Substitution Effect
The alteration in buying habits caused by shifts in relative prices, prompting consumers to swap out higher-priced goods for more affordable options.
Output Effect
The change in total revenue resulting from selling more units of a product, potentially influenced by changes in price or quantity produced.
Substitute Resource
Alternative resources or inputs that can be used in place of another in the production process to produce a similar type of output.
Productivity
The efficiency with which input resources are converted into outputs, often measured as the ratio of output to input in a given time period.
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