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Interest Rate
The percentage at which interest is paid by borrowers for the use of money they borrow from a lender.
Consumption
The process by which goods and services are used up or consumed by individuals or groups, typically leading to satisfaction of needs or wants.
Endowment
The total resources available to an individual or economy, including natural, human, and physical assets.
Utility Function
A mathematical representation of how individual preferences can be quantified over a set of goods and services, reflecting satisfaction levels from their consumption.
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