Examlex
Give examples to explain that high levels of immigration can renew racial and ethnic communities in three ways: economic advantage, political advantage, and emotional support of cultural familiarity and solidarity.
Initial Endowment
The initial set of assets, financial resources, or goods that an individual, institution, or economy possesses.
Utility Function
A mathematical representation that describes how consumers rank different bundles of goods according to the levels of satisfaction or utility those bundles provide.
Edgeworth Box
A diagram used in economics to show the distribution of resources and to find the optimal allocation for two individuals.
Contract Curve
In economics, it refers to the locus of optimal points of allocation of resources between two parties under the constraints of their respective utility functions.
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