Examlex
The movement of oxygen from an area of high concentration to an area of low concentration is an exampleof
Pareto Optimal
An allocation scenario where it is impracticable to enhance the situation of any entity or preference measure without causing a decline for at least one other entity or benchmark.
Endowment
The stock of assets or resources provided to an individual, institution, or country, typically used to generate income or contribute to wealth.
Pure Exchange Economy
An economic model where no production occurs and individuals or entities trade pre-existing goods and services among each other.
Walras's Law
A principle in general equilibrium theory stating that if all markets but one are in equilibrium, then the remaining market must also be in equilibrium.
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