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Guaranteed Income
A system of social welfare provision that guarantees that all citizens or families have an income sufficient to live on, provided they meet certain conditions.
Expected Total Utility
The sum of satisfaction or benefit that a consumer anticipates receiving from consuming different quantities of goods and services.
Utility
The satisfaction or benefit derived by consuming a product; thus the desire to obtain a good or service.
Certain Income
Income that is guaranteed or known, without any risk of fluctuation or loss.
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