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Match the Terms with Their Correct Meanings

question 59

Multiple Choice

Match the terms with their correct meanings.
-Pertaining to below a rib


Definitions:

Normal Good

A good whose demand increases when consumer income rises and decreases when consumer income falls, ceteris paribus.

Consumer

A person or collective that buys products or services for their own consumption and not for making or selling them.

Income

The revenue brought in, consistently over time, from professional endeavors or investments.

Budget Constraint

The limits imposed on household choices by income, prices, and taxes, defining the combination of goods and services they can afford.

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