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Trade
The exchange of goods, services, or both between two or more parties.
Numeraire Good
An economic term referring to a benchmark commodity or asset used to compare the value of other goods or assets.
Utility Function
A utility function is a mathematical representation used in economics to model satisfaction or preference regarding goods or services by consumers.
Initial Endowment
The initial amount of resources, wealth, or goods that an individual or entity possesses at the start of a period.
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