Examlex
Java applets operating in a sandbox can perform file input, output, or delete operations.
Income Effect
The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.
Substitution Effect
Refers to the change in consumption patterns due to a change in the relative prices of goods, holding the consumer's utility constant.
Consumption Bundle
A collection of goods or services that an individual or household consumes within a given period.
Utility Function
A mathematical model in economics that maps a consumer's preferences for various products and services to a numerical representation of utility or satisfaction.
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