Examlex
What are the three objectives of punishment in the criminal justice system? List one benefit and one criticism of each.
Normal Good
A Normal Good is a type of good for which demand increases as the income of consumers increases and decreases when consumer income decreases, all else being equal.
Indifference Curve
A curve showing the different combinations of two products that yield the same satisfaction or utility to a consumer.
Parallel Shift
Parallel shift is a concept in economics where a graph, such as a demand or supply curve, shifts left or right without changing its slope, indicating a uniform change in demand or supply.
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