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Ersatz is a German word meaning substitute or replacement. [2] Although it is used as an adjective in English, it is a noun in German. In German orthography noun phrases formed are usually represented as a single word, forming compound nouns such as Ersatzteile ("spare parts") or Ersatzspieler ("substitute player").
In other words, its substitutes become relatively costlier. Consumers would normally like to substitute cheaper goods for costlier ones. Thus, the demand for relatively cheaper substitute commodities increases. [11] Compared to normal goods, a price decrease (or increase) would actually decrease (or increase) the consumption of an inferior good.
If precondition #1 is changed to "The goods in question must be so inferior that the income effect is greater than the substitution effect" then this list defines necessary and sufficient conditions. The last condition is a condition on the buyer rather than the goods itself, and thus the phenomenon is also called a "Giffen behavior".
Some states, like Kentucky, North Carolina and Washington state, did “a very good job of protecting children during the process,” she said. But other states — Texas, Utah, Colorado and ...
Artists like Mariah Carey and Ariana Grande have managed to perfect music's cheesiest genre, while others would've been better off leaving it alone. The 6 best and 6 worst celebrity Christmas ...
Cryptic crosswords often use abbreviations to clue individual letters or short fragments of the overall solution. These include: Any conventional abbreviations found in a standard dictionary, such as:
Billionaire entrepreneur and top adviser to President-elect Donald Trump, Elon Musk, touted that he has reaped the benefits of a controversial class of weight-loss drugs, after fellow top Trump ...
The name Luddite (/ ˈ l ʌ d aɪ t /) occurs in the movement's writings as early as 1811. [3]The movement utilised the eponym of Ned Ludd, an apocryphal apprentice who allegedly smashed two stocking frames in 1779 after being criticized and instructed to change his method.