Examlex
Polygenic traits
Maximum Willingness
The highest amount an individual or entity is ready to pay for a good or service.
Individual Pays
A principle where the cost of a service or good is borne by the individual who consumes or uses it, rather than by society or an organization.
Aggregate Demand Curve
Describes the buying behavior of a group of consumers. We add up all the individual demand curves to get an aggregate demand curve (the relationship between the price and the number of purchases made by a group of consumers).
Total Demand
Represents the entire quantity of a certain product or service that consumers in a market are willing and able to purchase at a given price level.
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