Examlex
Albert Bandura's principles of observational learning have been applied in television dramas that have been designed to foster healthy behaviors in societies in many different countries.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various prices over a given period of time.
Allocative Efficiency
A state of the economy in which production represents consumer preferences; every good or service is produced up to the point where the last unit provides a marginal benefit equal to its marginal cost of production.
Productive Efficiency
A situation in which an economy or entity can no longer produce additional amounts of a good without lowering the production level of another product.
Substitute Goods
Products or services that can be used in place of each other, having a positive cross-elasticity of demand.
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