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Budget Line
Represents all the combinations of two goods that a consumer can afford given their prices and the consumer's income.
Indifference Curve
A graphical representation showing combinations of goods or services among which a consumer is indifferent, reflecting their preferences.
Money Income
The total amount of monetary earnings received by an individual or household, including wages, salaries, and other income sources.
Indifference Curve
A graphical representation that shows different combinations of two goods or services among which a consumer is indifferent, meaning the consumer has no preference for one combination over another.
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