Examlex
Which term refers to regions of dense forestation, most of which circle the globe near to the equator?
Utility-maximizing Consumer
An economic concept where consumers aim to get the greatest utility or satisfaction from their purchases given their budget constraints.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, unlike normal goods, where demand increases with rising income.
Demand Curves
Graphs that show the relationship between the price of a product and the quantity of the product demanded.
Income Effect
The change in an individual's or economy's consumption patterns due to a change in real income.
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