Examlex
How many other countries in the world have a lower infant mortality rate for the first year of life than the U.S.?
Consumer Surplus
The difference between what consumers are willing to pay for a good or service and what they actually pay.
Rational
Related to decision-making, denotes behavior in accordance with logic or reason, where choices are made to maximize self-interest or outcome.
Inelastic
Characterizing a situation where a change in price leads to a relatively small change in the quantity demanded or supplied.
Share of Income
The portion of total income (either personal or national) that is received by an individual, household, or socioeconomic group.
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