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  2. Incontrovertible evidence - Wikipedia

    en.wikipedia.org/wiki/Incontrovertible_evidence

    Incontrovertible evidence and conclusive evidence (less formally, concrete evidence and hard evidence) [1] [2] are colloquial terms for evidence introduced to prove a fact that is supposed to be so conclusive that there can be no other truth to the matter; i.e., evidence so strong it overpowers contrary evidence, directing a fact-finder to a ...

  3. Law of demand - Wikipedia

    en.wikipedia.org/wiki/Law_of_demand

    The elasticity of demand follows the law of demand and its definition. However, there are goods and specific situations that defy the law of demand. Generally, the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases this may not be true. There are certain goods which do not follow the law of ...

  4. Cost-push inflation - Wikipedia

    en.wikipedia.org/wiki/Cost-push_inflation

    It is contrasted with the theory of demand-pull inflation. Both accounts of inflation have at various times been put forward, with inconclusive evidence as to which explanation is superior. [1] Cost-push inflation can also result from a rise in expected inflation, which in turn the workers will demand higher wages, thus causing inflation. [2]

  5. Supply and demand - Wikipedia

    en.wikipedia.org/wiki/Supply_and_demand

    Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market.It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied ...

  6. Giffen good - Wikipedia

    en.wikipedia.org/wiki/Giffen_good

    In microeconomics and consumer theory, a Giffen good is a product that people consume more of as the price rises and vice versa, violating the law of demand. For ordinary goods , as the price of the good rises, the substitution effect makes consumers purchase less of it, and more of substitute goods ; the income effect can either reinforce or ...

  7. Hicks–Marshall laws of derived demand - Wikipedia

    en.wikipedia.org/wiki/Hicks–Marshall_laws_of...

    In economics, the Hicks–Marshall laws of derived demand assert that, other things equal, the own-wage elasticity of demand for a category of labor is high under the following conditions: When the price elasticity of demand for the product being produced is high (scale effect). So when final product demand is elastic, an increase in wages will ...

  8. Bright-line rule - Wikipedia

    en.wikipedia.org/wiki/Bright-line_rule

    A bright-line rule (or bright-line test) is a clearly defined rule or standard, composed of objective factors, which leaves little or no room for varying interpretation. The purpose of a bright-line rule is to produce predictable and consistent results in its application. The term "bright-line" in this sense generally occurs in a legal context.

  9. Slutsky equation - Wikipedia

    en.wikipedia.org/wiki/Slutsky_equation

    A Giffen good is a product in greater demand when the price increases, which is also a special case of inferior goods. [5] In the extreme case of income inferiority, the size of the income effect overpowers the size of the substitution effect, leading to a positive overall change in demand responding to an increase in the price.

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