Examlex
________ argued that nothing could be known for certain.
Indifference Curves
A graphical representation used in economics to show different combinations of two goods that give a consumer equal satisfaction and utility.
Utility Maximizes
The behavior of consumers to obtain the greatest satisfaction from their choices, given their resources.
Substitution Effect
The change in demand for a good or service caused by a change in its price, making consumers choose alternatives.
Budget Constraints
The limitations on the spending behavior of consumers based on their income and the prices of goods and services, determining the possible combinations of goods and services they can afford.
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