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Projectiles: Alice and Tom dive from an overhang into the lake below. Tom simply drops straight down from the edge, but Alice takes a running start and jumps with an initial horizontal velocity of 25 m/s. Neither person experiences any significant air resistance. Compare the time it takes each of them to reach the lake below.
Pure Exchange Economy
An economic model where all agents are consumers, and the only economic activities are the consumption and exchange of goods, with no production.
Numeraire
A standard unit of account in which prices and values are expressed; it serves as a measure for comparing the worth of goods or services.
Endowed
Provided with a quality, ability, or asset.
Perfect Substitutes
Goods that can be used in place of each other with no loss of utility by the consumer.
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