Examlex
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Endowment
The total resources available to an individual or entity, including income, assets, and wealth.
Consumption
The process by which goods and services are used up by consumers, reflecting a part of the economy concerned with spending on final goods and services.
Price Change
A variation in the cost of a good or service over time, which can increase (price rise) or decrease (price fall), affecting demand and supply dynamics.
Utility Function
A mathematical representation describing how a consumer ranks different bundles of goods according to the level of satisfaction (utility) they provide.
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