Examlex
According to Mill, to say that I have a right to something is to say that I have a valid claim on society to protect me in the possession of that thing, either by force of law or through education and opinion.
Competitive Equilibrium Price
The price level at which the quantity supplied equals the quantity demanded in a competitive market, ensuring no excess supply or demand.
Utility Function
A mathematical representation of how a set of goods and services are converted into utility or satisfaction for the consumer.
Numeraire
A standard unit of account in economic modeling used to measure relative prices.
Spaghetti Consumption
The amount or rate at which individuals or populations eat spaghetti, often studied in terms of dietary habits or economic factors.
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