Examlex
The social structure is essential for a society, but is not an essential part of any particular individual's life.
Total Income
The sum of all earnings obtained from work, investments, and other sources before any taxes or deductions.
Perfectly Price Elastic
Describes a situation where the quantity demanded or supplied changes infinitely in response to any change in price.
Luxury Good
A high-end item that is not necessary for living but is deemed as highly desirable within a culture or society.
Baseball Cards
Collectible items featuring baseball players that are traded and collected by enthusiasts.
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