tulosvaikutus
Tulosvaikutus, often translated as the income effect, is a fundamental concept in microeconomics that describes how a change in the price of a good or service affects the purchasing power of a consumer's income. When the price of a good falls, consumers effectively have more real income because they can buy the same amount of the good for less money. This increased purchasing power can then be spent on more of that good, or on other goods and services. Conversely, when the price of a good rises, consumers' real income decreases, and they can afford to buy less of that good and potentially other goods as well.
The income effect is one of two components that explain the total effect of a price change