Examlex
Which of the following terms describes the set of values, beliefs, rules, language, and institutions held by a specific group of people?
Utility Function
A mathematical representation of a consumer's preference ordering over a set of goods and services, showing the satisfaction level from consumption.
Consumption Of X
The act of using up a particular resource X or the amount of X that is used.
Units Of Y
A generic term for the measurement used to quantify the output in a given economic or mathematical model.
Utility Function
An economic model that describes how consumers rank different bundles of goods according to the levels of satisfaction or utility those bundles provide.
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