Examlex
A 58-year-old woman revealed that she had experimented with intravenous drugs as a teenager.Is she an acceptable donor?
Diminishing Marginal
A principle stating that as additional units of a variable input are added to a fixed input, the additional output produced from each new unit will eventually decline.
Indifference Curves
A graphical representation of different combinations of goods or services among which a consumer is indifferent, showing preferences and trade-offs.
Completeness
In the context of preferences, the assumption that any two bundles of goods can be compared, meaning a consumer can decide if one is preferred, the other is preferred, or they are valued equally.
Transitivity
The concept in decision theory and economics that if preference or choice A is preferred to B, and B is preferred to C, then A must be preferred to C.
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