Example of
- Income Effect
- Normal Goods vs. Inferior Goods
- Complements
- Substitutes
- Fixed costs
- Variable costs
- Consumer Surplus
- Bartering

- Income Effect

A change in consumption due to a change in income.

Example: When you buy cheaper breads after you get a salary cut.

- Normal Goods vs. Inferior Goods

Normal goods : The demand of this product will increase when people's income increase

Inferior Goods: Demand of this product will decrease when people's income increase.

Example: Luxury clothes and less-known brand clothes.

- Complements

A product that is used alongside of other products. Cannot really stand alone.

example:  Smartphone case is a complement product of your smartphone. No-one really by the case without having the phone.

- Substitutes

A product that is used in exchange of another product.

Example : When you drink tea after you run out of coffee.

- Fixed costs

A cost that remain the same regardless of how much goods or services you produce.

Example: Bulding rent.

- Variable costs

A cost that will increase when you increase the production of your goods or services.

Example: Cost of materials.

- Consumer Surplus

A difference betweenthe price that people willing to pay compared to the actual price that they pay.

Example: If you have a $500 budget for a laptop and you managed to purchase it for $400, you have a $100 customer surplus.

- Bartering

when you exchange one product with another without using any monetary instrument.

Example: When you exchange your Jacket with your friend's pants.

pizarro staged a mock trial and found atahualpa guilty of revolting against the spanish, practicing idolatry, and murdering huáscar, his brother. atahualpa was sentenced to execution by burning. he was horrified, since the inca believed that the soul would not be able to go on to the afterlife if the body were burned.

when christopher columbus arrived on the bahamian island of guanahani (san salvador) in 1492, he encountered the taíno people, whom he described in letters as "naked as the day they were born." taíno influences survived, however, and today appear in the beliefs, religions, language, and music of caribbean cultures.

ad 1492: taíno meet columbus; “new world” gets new diseases. in the bahamas, the taíno are 125,000 strong in 1492 when they encounter the crew and the italian captain of three spanish ships. christopher columbus seeks a shorter sea route to india to spain get a foothold in the profitable spice trade.

hope this

p.s plz make me a brinties