Examlex
William Foote Whyte, who studied a community he called "Cornerville," found that "breaking in" to the community was unexpectedly easy.
Indifference Curves
A graph showing different bundles of goods between which a consumer is indifferent, pointing out the preferences of the consumer for one combination of goods over another.
Bowed Inward
A description often used in economics to illustrate a production possibility frontier that indicates increasing opportunity costs for producing goods.
Budget Constraint
The limit on the consumption bundles that a consumer can afford to purchase based on their income and the prices of goods and services.
Goods X
A placeholder term typically used in economic models to represent a generic good or product.
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