Examlex
The first plants in a successional sequence are called the ________.
Marginal Utilities
The increased contentment or value obtained by a consumer through the consumption of one extra unit of a good or service.
Diminishing Marginal Utility
The principle that as a person increases consumption of a product, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.
Income Effect
The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.
Substitution Effect
The change in demand for a good that results from a change in its price, making consumers more likely to purchase more of a less expensive alternative or less of a more expensive one.
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