Examlex
Match the following terms with the corresponding description. (Use each answer only once.)
-Relatively homogeneous and sometimes crystallizable
Net Demand
The difference between total market demand and market supply, representing the excess demand or shortage in the market.
Utility Function
An economic concept expressing how different combinations of goods or services yield different levels of utility or satisfaction to an individual.
Endowment
The initial allocation of income, goods, or resources that individuals or firms possess in an economy, often impacting their trading capabilities and outcomes in markets.
Price
The amount of money required to purchase a good or service, reflecting its value in a market economy.
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