Examlex
Export marketing consists of:
Marginal Rate
The rate at which one quantity changes relative to a change in another quantity.
Substitution
The economic principle where consumers replace pricier items with less expensive alternatives when prices rise or their purchasing power decreases.
Indifference Curve
This is a graph representing different bundles of goods between which a consumer is indifferent, meaning that each combination offers the same level of utility to the consumer.
Indifference Curves
Graphical representations in microeconomics showing different bundles of goods between which a consumer is indifferent.
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