Examlex
The underlying meaning of a story is referred to as its:
WARP
WARP, or the Weak Axiom of Revealed Preference, is a consistency criterion for consumer choice behavior, suggesting that if a consumer prefers bundle A over bundle B when both are affordable, they should not choose B when A is still affordable.
Bundle
A collection of items or services grouped together as a single package.
Laspeyres Price Index
A price index calculated by taking the ratio of the total cost of purchasing a specified set of goods and services at current prices to the total cost of purchasing the same set of goods and services at base period prices, using base period quantities as weights.
Per Capita Income
The average income earned per person in a given area or country, calculated by dividing the total income by the population size.
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