Examlex
What is the role of forecasting in marketing? How do we estimate sale potential?
Extra Income
Additional money earned beyond the regular income, which can come from various sources such as a second job, investments, or side businesses.
Compensating Variation
A monetary measure of the amount of income required to return an individual to their original utility level after a price change.
Price Increase
A rise in the cost of goods or services, which can occur due to various factors including increased production costs, higher demand, or inflation.
Optimal Bundle
The combination of goods and services that maximizes an individual's utility given their budget constraint.
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