Examlex
What is secondary analysis? In terms of research, what are documents? How are these two methods different from the other research methods discussed in the chapter?
Maximize Utility
The economic principle aiming to achieve the highest satisfaction possible from consumption given limited resources.
Allocate Money Income
The process of distributing financial resources among different uses to satisfy various needs and desires.
Elasticity
A measure in economics that shows how the quantity demanded or supplied of a good changes in response to price or other economic factors.
Marginal Utility
The additional satisfaction or benefit (utility) that a consumer gains from consuming one more unit of a good or service.
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