Examlex
The term sanction refers only to a reaction from others meant to punish nonconformity.
Consumption Bundle
A combination of various goods and services that a consumer chooses to purchase.
Units Of Y
A measure or quantity of a variable \"Y\", often used in economic and mathematical models to quantify something.
Fixed Proportions
A production process condition where inputs must be used in strict, unchangeable ratios to produce an output; no substitution between inputs is possible.
Utility Function
An economic term describing how different goods or services yield different levels of satisfaction or utility to a consumer.
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