{"id":450,"date":"2018-06-26T05:29:42","date_gmt":"2018-06-26T05:29:42","guid":{"rendered":"http:\/\/blogs.vsb.bc.ca\/tquan\/?page_id=450"},"modified":"2018-06-26T05:29:49","modified_gmt":"2018-06-26T05:29:49","slug":"substitution-and-income-effect","status":"publish","type":"page","link":"https:\/\/blogs.vsb.bc.ca\/tquan\/economics-12\/video-links\/chapter-three-videos\/substitution-and-income-effect\/","title":{"rendered":"Substitution and Income Effect"},"content":{"rendered":"<p>This video discusses the how price changes can create two effects.<\/p>\n<ul>\n<li>The<em> first, called the substitution effect,<\/em> occurs when a price changes causes a consumer to switch products.<\/li>\n<li><em>The income effect<\/em> has to do with how price changes alter the purchasing power of a fixed amount of income.<\/li>\n<\/ul>\n<h1 class=\"title style-scope ytd-video-primary-info-renderer\"><a href=\"https:\/\/youtu.be\/a4VvgPL_LB0\">Substitution and Income Effect<\/a><\/h1>\n","protected":false},"excerpt":{"rendered":"<p>This video discusses the how price changes can create two effects. The first, called the substitution effect, occurs when a price changes causes a consumer to switch products. The income effect has to do with how price changes alter the &hellip; <a href=\"https:\/\/blogs.vsb.bc.ca\/tquan\/economics-12\/video-links\/chapter-three-videos\/substitution-and-income-effect\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":75,"featured_media":0,"parent":431,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-450","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/pages\/450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/users\/75"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/comments?post=450"}],"version-history":[{"count":1,"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/pages\/450\/revisions"}],"predecessor-version":[{"id":451,"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/pages\/450\/revisions\/451"}],"up":[{"embeddable":true,"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/pages\/431"}],"wp:attachment":[{"href":"https:\/\/blogs.vsb.bc.ca\/tquan\/wp-json\/wp\/v2\/media?parent=450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}