Examlex
The method of control wherein an extraneous variable is held constant is called blocking.
Budget Line
A graphical representation of all possible combinations of two goods that can be purchased with a given income and prices.
Commodity 1
A basic good used in commerce that is interchangeable with other goods of the same type, typically referred to when discussing market transactions.
Units of Y
A placeholder term generally referring to quantities or measurements of a variable Y.
Units of X
A measure or quantity of a particular good, product, or factor of production expressed as a discreet unit for analysis or transaction purposes.
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