Examlex
The context and meaning of tables and lists are derived from the format of the information.
Substitution
The economic principle describing how consumers replace more expensive items with less costly alternatives.
Indifference Curves
Graphs showing different bundles of goods between which a consumer is indifferent, highlighting preferences.
L-shaped
Can refer to a type of economic recession and recovery that resembles the shape of the letter "L", indicating a steep decline followed by a period of stagnation.
Kinks
Points at which there is a sudden change in direction or curve, often used in economics to describe non-linearities in graphs like the demand curve.
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