Examlex
What are the three types of reciprocity? Name and describe each.
Law of Supply
The economic principle stating that as the price of a good or service increases, the quantity supplied of that good or service will also increase, ceteris paribus.
Decreasing Opportunity Costs
A situation in which sacrificing less of one good to produce another becomes possible, often due to efficiencies or learning.
Marginal Utility
The extra pleasure or benefit gained by a person from consuming one more unit of a product or service.
Breast Milk
The milk produced by human breasts or mammary glands, specifically designed to feed babies and infants, containing essential nutrients for development.
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