Examlex
Virtual teams are composed of individuals who are separated geographically but linked by communications technology.
Budget Constraint
The limit on the consumption patterns of individuals or entities, based on their income and the prices of goods and services.
Marginal Utility
The additional satisfaction or utility received by consuming an additional unit of a good or service.
Marginal Utility
The additional satisfaction or utility that a person receives from consuming one additional unit of a good or service.
Budget Line
A graphical representation of all possible combinations of two goods or services that can be purchased with a given budget.
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