Examlex
Which of the following is true about indexes but false about scales?
Objectively Determined
Describes a value or decision made based on factual and unbiased criteria, removing personal feelings or opinions.
Indifference Schedule
An indifference schedule is a table or graph representing combinations of two goods among which a consumer is indifferent, showing how much of one good the consumer is willing to give up to obtain more of the other good.
Willingness
The readiness or inclination of a person to do something or to act in a certain way, often used in economic contexts to discuss willingness to pay.
Marginal Utility
The incremental benefit or satisfaction a buyer obtains from the consumption of one more unit of a good or service.
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