Examlex
Which of the following instruments was constructed primarily based on factor analysis?
Edgeworth Box
A diagram used in microeconomics to show the distribution of resources or the outcome of trade between two parties.
Utility Function
An economic tool that describes how consumers rank different bundles of goods according to the level of satisfaction or utility those bundles provide.
Endowed
Provided with a large amount of a particular resource or quality.
Contract Curve
In economics, it represents the set of optimal points of exchange between two parties, where no further mutual benefit can be achieved through trade.
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