Examlex
Which of the following is considered to be a closed system?
Consumption
The spending on goods and services by households or individuals.
Marginal Utility
The supplementary satisfaction or benefit obtained from using an additional unit of a product or service.
Utility Maximization
An economic principle that suggests consumers aim to get the greatest satisfaction possible from their available resources.
Consumer's First
A philosophy or policy placing consumer interests and satisfaction at the forefront of business decision-making.
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