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write a note on determinates of income elasticity of demand
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Gross domestic product (GDP) refers to the market value of all officially recognized final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living;GDP per capita is not a measure of personal income. See Standard of living and GDP.It is not to be confused with Gross National Product (GNP) which allocates production based on ownership. Gross domestic product is related to national accounts, a subject in macroeconomics.
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The Central Highlands is a region in the United States known for its diverse landscapes, including mountains, forests, and lakes. It is mainly located in states like Colorado, Wyoming, and Utah. The area attracts outdoor enthusiasts with activities like hiking, skiing, and camping.
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Experimental research design involves manipulating one or more variables in a controlled setting to observe the effect on the dependent variable. It allows researchers to establish cause-and-effect relationships by controlling for potential confounding variables. This design is characterized by random assignment of participants to different conditions and the use of control groups to minimize bias and increase the internal validity of the study.
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write a note on determinates of income elasticity of demand