Examlex
Why do societies with class systems keep some elements of caste (such as the inheritance of wealth) rather than becoming complete meritocracies?
Indifference Map
A graphical representation of combinations of goods or services between which a consumer is indifferent, showing different levels of utility.
Acceleration
It refers to an increase in the rate or speed of an object or activity, commonly used in physics and economics.
Utility
A measure of satisfaction or pleasure obtained from consuming goods and services.
Indifference Curves
Graphical representations in economics that show different bundles of goods between which a consumer is indifferent, meaning that the consumer has no preference for one bundle over another.
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