Examlex
A successful business plan for an electronic commerce initiative should include activities that identify the initiative's specific objectives and link those objectives to business strategies.
Total Utility
Total utility is the total satisfaction or benefit that a consumer derives from consuming a specific quantity of a good or service.
Indifference Curves
A graphical representation that shows a combination of two goods or services that gives a consumer equal satisfaction and utility.
Intersect
The point at which two or more lines or paths cross each other.
Substitution Effect
The change in consumption of goods that occurs when a price change for one good makes another good more or less attractive as a substitute.
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