Examlex
All of the following are characteristics of a closed family system EXCEPT
Utility Function
A utility function is a mathematical representation in economics that depicts an individual's preference ranking over a set of goods or outcomes, showing the level of satisfaction or utility derived from them.
Nuts
Hard-shelled edible seeds of certain plants, often rich in oil and nutrients.
Berries
Small, juicy fruits with a high vitamin content, often edible and ranging in flavor from sweet to tart, used in various culinary applications.
Utility Function
A mathematical representation that ranks preferences or satisfaction levels consumers derive from consuming goods and services.
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