Examlex
What is the "layer checking" technique and how can it assist in determining the cause and origin of a fire?
Law of Demand
A fundamental principle stating that all else being equal, as the price of a good increases, the quantity demanded of that good decreases, and vice versa.
Marginal Utilities
The additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.
Optimal Choice
The decision that yields the highest benefit or utility for an individual, considering constraints and available information.
Marginal Rate
In economics, it generally refers to the increase or decrease in the cost or benefit of producing one additional unit of a good or service.
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