Examlex
_____ means making probationers accountable for their behavior and making sure they understand the consequences of violating the conditions of probation.
Income Effect
The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.
Substitution Effect
Refers to the change in consumption patterns due to a change in the relative prices of goods, holding the consumer's utility constant.
Consumption Bundle
A collection of goods or services that an individual or household consumes within a given period.
Utility Function
A mathematical model in economics that maps a consumer's preferences for various products and services to a numerical representation of utility or satisfaction.
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