Examlex
If the teacher never calls on you when you raise your hand, you will probably stop raising your hand.This decrease in your hand raising due to the teacher ignoring you is an example of
Good
An item or service that satisfies a want or need and is available for sale or exchange in the market.
Maximizing Utility
The economic principle that individuals or firms seek to achieve the highest level of satisfaction or benefit from their choices.
Marginal Utility
The increased enjoyment or value gained by a consumer from consuming an extra unit of a good or service.
Price
The amount of money required to purchase a good or service, which is determined by supply and demand.
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