Examlex
What type of assessment informs the instructor of a student's skills and abilities prior to instruction?
Utility
A measure of satisfaction, usefulness, or pleasure derived from consuming goods and services.
Budget Constraint
A limit on the consumption bundles that a consumer can afford given the prices of goods and the consumer's income.
Utility
The satisfaction or benefit derived from the consumption of goods and services.
Optimal Consumption Bundles
Combinations of goods and services that provide the highest utility to a consumer given his or her preferences and budget constraints.
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