|
|
INCOME, DEMAND DETERMINANT: One of the five demand determinants assumed constant when a demand curve is constructed, and that shift the demand curve when they change. Income affects demand differently for normal goods and inferior goods. A normal good, the name indicates, is affected by income much as you might expect. Additional income allows buyers to purchase more normal goods, thus demand increases with an increase in income. The demand for an inferior good is affected exactly opposite. An increase in income causes a decrease in the demand for an inferior good. Buyers decide to buy less of an inferior good when they have additional income.
Visit the GLOSS*arama
|
|
|
|
|
REDUNDANT INFORMATION Information received by the five senses (sight, sound, taste, touch, and smell) that is old, familiar, and usual. Because redundant information is not presumed to be threatening it can be largely ignored by the automatic response that is commonly termed the "fight or flight" reaction. The alternative is novel information, which is unfamiliar and potentially threatening.
Complete Entry | Visit the WEB*pedia |
|
|
GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope
This isn't me! What am I?
|
|
|
One of the largest markets for gold in the United States is the manufacturing of class rings.
|
|
|
"We must be willing to let go of the life we have planned, so as to have the life that is waiting for us. " -- E. M. Forster, writer
|
|
ACIR
Advisory Council on Intergovernmental Relations
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
