Examlex
Joe is working in a database that stores client data. He needs to design a field that will assign a client ID number each time a user enters a new client. The data type he should apply to this field is:
Optimal Choice
The most efficient and effective decision or selection made from among various alternatives, based on the criteria of maximizing utility or benefit.
Budget Constraint
The restriction on the assortment of goods and services a consumer is able to purchase, determined by their income and the costs of those items.
Interest Rate on Savings
The percentage yield paid by financial institutions to deposit account holders on the balances in their savings accounts.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one product for another.
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