Examlex
Passive voice is useful to give bad news.
Income Effect
The relationship between changing income levels in an economy or for individuals and the subsequent effect on goods and services demand.
Substitution Effect
Describes how consumers react to an increase in a good's price by substituting another good, affecting the quantity demanded.
Marginal Utility
The additional utility or enjoyment derived from the consumption of one more unit of a product or service.
Optimal Consumption
The mix of goods and services that maximizes the utility or satisfaction of a consumer given their budget constraint.
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