Examlex
Which of the following statements about culture is true?
Numeraire
A unit of account or standard measure in economics used to compare the value of goods or services.
Pareto Optimal
Another term for Pareto Efficient; describes a situation where no one's condition can be improved without worsening someone else's condition.
Initial Endowment
The initial quantity of goods, services, and assets that an individual, organization, or economy possesses.
Pareto Optimal
An allocation of resources from which it is impossible to reallocate without making at least one individual worse off.
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