Examlex
Match the person or term with the with the correct description.
-Dust Bowl
Ordinal Utility Functions
A representation of a consumer's preference ranking for different bundles of goods, without specifying the exact level of satisfaction.
Basic Assumptions
Foundational beliefs or principles that are accepted as true without proof, forming the basis of further argument or reasoning.
Indifference Curve
A graph showing different combinations of two goods that provide equal satisfaction and utility to a consumer.
Marginal Rates of Substitution
The speed at which a buyer is prepared to sacrifice one item for another while keeping their satisfaction constant.
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