Examlex
Peacemaking circles involve discussions between the victim, offender, their support systems and the community.
Utility Maximization
A principle in economics where individuals or firms aim to achieve the highest satisfaction or profit from their resources and decisions.
Budget Constraints
The limitations on the spending behavior of consumers, based on their income and the prices of goods and services.
Consumer Equilibrium
A state where the allocation of resources by consumers results in the maximization of their utility, with no incentive to change their consumption pattern.
Utility
In economics, it refers to the satisfaction or benefit derived by consumers from consuming goods and services.
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