Examlex
What are the four functions of money? Can something be considered money if it does not fulfill all four functions?
Total Utility
The complete pleasure or advantage an individual obtains from the consumption of a specific amount of products or services.
Budget Line
A graphical representation of all possible combinations of two goods that an individual can afford, given their income and the prices of the goods.
Money Income
The overall sum of financial income earned by a person or family, comprising earnings from employment, salaries, and various other income types.
Indifference Curves
Graphical representations used in microeconomics to show combinations of two goods that provide equal satisfaction and utility to a consumer.
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