Examlex
_____ is the ability to produce more of a product than a trading partner can.
Demand
The desire for certain goods or services backed by the ability and willingness to pay for them.
Luxury Goods
High-end items that are not necessary for survival but are desired for their quality, status, or aesthetics.
Doubled Income
A situation where an individual's or entity's income increases to twice its initial amount.
Homothetic Preferences
Consumer preferences where if a bundle of goods is preferred to another, then any scaled up or down version of the bundle is also preferred based on the proportion of goods, maintaining consumption patterns.
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