For the Following, Indicate Whether the Definition Given Is by Example

question 188

Short Answer

For the following, indicate whether the definition given is by example, by synonym, or analytical: The oud is a stringed musical instrument shaped much like a guitar and played primarily in Middle Eastern countries.

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Definitions:

Transitive

A relation is described as transitive if, whenever it relates some A to B and B to C, it also relates A to C.

Marginal Rate of Substitution

The rate at which a consumer is willing to give up one good in exchange for another good while maintaining the same level of utility or satisfaction.

Perfect Substitutes

Two goods for which consumers are completely indifferent as to which to consume, meaning the consumption of one good can fully replace consumption of the other.

Perfect Complements

Goods that are often consumed together in fixed proportions, such that demand for one increases demand for the other.