Examlex
This figure provides an illustrated example of a linear relationship. What does it mean?
Indifference Curve
A curve showing the different combinations of two products that yield the same satisfaction or utility to a consumer.
Parallel Shift
Parallel shift is a concept in economics where a graph, such as a demand or supply curve, shifts left or right without changing its slope, indicating a uniform change in demand or supply.
Budget Line
A line that shows the different combinations of two products a consumer can purchase with a specific money income, given the products’ prices.
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