Examlex
A wind shift from south or southwest to northwest is commonly associated with the passage of a ________ front.
Total Utility
The total satisfaction or benefit a consumer receives from consuming a specific quantity of goods or services.
Income Effect
The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.
Diminishing Marginal Utility
The principle that as a person consumes more of a good, the satisfaction (utility) gained from each additional unit decreases.
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