Examlex
______________ are tangible objects that are necessary (such as food,clothing,and shelter) or desired (such as DVDs and electric toothbrushes) .
Marginal Utility
The added satisfaction or usefulness received from consuming one more unit of a good or service.
Total Utility
The total satisfaction received from consuming a certain amount or combination of goods and services.
Money Income
The total amount of monetary earnings or receipts received by an individual or household from various sources before taxes.
Utility-Maximizing
Utility-maximizing is a principle in economics where individuals or entities choose the options that provide the highest satisfaction or utility from the available choices, given their preferences and constraints.
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