Examlex
International trade is based on the notion that:
Compensating Variation
An economic concept representing the monetary amount needed to compensate an individual for a price change or policy effect, keeping utility constant.
Equivalent Variation
A measure of the change in wealth needed to maintain a consumer's utility level constant before and after a price change.
Price Decreases
A reduction in the cost at which goods and services are sold in the market.
Net Seller
An individual or entity that sells more of a security, commodity, or other assets than they buy in a given period.
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